Give us a way of market movements you see today. Now we’ve broken under 23,600 characters. So what are the next levels that you simply notice on the charts for each Nifta and Nifty Bank, because we currently see the weakness of each of those indicators.
Rohit Srivastava: After six days of consistent profits on Nifty and doubtless five on the Nifty Bank, because yesterday they weakened a bit, we get the first withdrawal. Many people waited after we got it? Well, you get it. But considering that it should be significant would probably be bad. It will simply be a part of a small, two, three -day consolidation regarding ongoing growth, in this fashion we should always consider it.
Direct support for Nifta will probably be around 23,500, and if I take into consideration the Nifta bank, then immediate support needs to be closer to about 51 150 and closer to these levels, we should always see it to the bottom and resume the upward and better trend, and subsequently higher, which implies how far?
I believe that after breaking over 23,000, we’ve set the exchange rate for a greater reversal of the trends of the entire fall, which began from the end of September to early March, and subsequently we should always at the least 61% of the withdrawal of the entire fall, thanks to which it leads us to about 24 630 in the coming month, we’d search for in Nifty.
We probably did way more at Nifty Bank, because in a way it led it. So we’ve already recovered 61% of the next level, so after we pass this range, which is about 52 150, we’d probably go 53,000, so I take a look at each key indicators.
I just wanted to get your view on a particular sector, making an allowance for the undeniable fact that you gave us taste, what should we expect the market or reference points, but what about the sectors? Which sector looks good, considering the undeniable fact that we saw a substantial correction? Now we see that a few of them or relatively sector rotation actually happen now, so which sector in the charts looks nice?
Rohit Srivastava: So two parts, one, after all, is an element of the sector’s turn, and the other is what’s outweighted and where we are able to get maximum profits if our maintenance period is at the least three months or longer. So, once you think a bit more medium or long -term, you want to to see what sectors the market has really attributed to the last one and a half months, which puts us in favor of NBFC in finance, although finance as a complete also seems to surpass. It is included in the dog’s supplies after which metal supplies. These are three that stand out, in order that they are goods, power supplies and funds. Now there’s also oil and gas, which is a separate story just because of what is going on in oil.
This leaves us with 4 leading sectors, to which they stayed, should you were taking a look at performance, which works barely more on average to long -term, so they’ll proceed to work, because they’re low hanging fruit or low sectors of valuation compared to the high valuation sector, so where the money has been occurring from 2022, and I believe that the trend will now be seen in a few of them Of them, in which the weekly RSI from 92 to life 30 to life may have a time of 30 to live. Over the past six months, so it is a configuration.
But the second part, which is the rotation, one among the sectors that remained until December, which at the moment became the last of the worst performers, was, and with recently pouring out on American markets, and after we enter the next season of the results, the IT sector seems ready to start collecting rotation. So, even though it achieved worse results, it will probably show short -term results based on this and subsequently you need to take a look at it.
