Nifty vs Dow Market Reports

The US markets have been rising continuously and touching new highs. But Indian markets have refused to join the party. Last to Last Thursday (08th Apr 2021) Nifty traded above the crucial level of 14955 but failed to close above it hence failed to generate the buy signal once again. As suggested earlier the Dollar Index (DXY) has started to fall and it is likely to generate some FII buying sooner than later. As we had suggested on February 26 to accumulate the IT & Pharma sectors, these are performing quite well now. The FMCG, Cement & Metal sectors also have joined the party. But Banking and Financials are still playing spoilsport. One strong reason for this is the strong second wave of Corona cases in India. As long as 14248 is intact on the closing basis, all dips are buying opportunity but one should avoid banking and NBFC stocks till BankNifty is able to close above 32800 levels. One should look for buying opportunities in IT, Pharma, FMCG, Cement and Metal sectors on the dip. The resistance zone in Nifty remains at 14800-14950 where one can book profits. A close above 14900 will generate a buy signal. Trade accordingly.

I had made a video in 07th April regarding Index Analysis & share The nifty Bottom Level 14241 and finally test this level 14250 12th April 2021 .can watch this link given below:


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