Business News Desk, Nifty has been witnessing a rising trend for the last 11 days and this was seen earlier in September 2007. Will the market register a rise today and break this 17-year-old record? If market experts are to be believed, the market can make this record with the help of HDFC Bank. Earlier on Thursday, the market saw a rise and the rise in Reliance Industries helped a lot in this. One-third of the rise in Nifty in the last session came from Reliance Industries. So far in the week, Nifty has registered a rise of 1.2 percent.
What is today’s special event?
The biggest indication for Friday’s session is the implementation of MSCI’s changes which will come into effect at the end of the session, which means that HDFC Bank, which has been an underperformer, will see its first increase in weightage in the MSCI index. Market experts believe that after this change, HDFC may see an inflow of $ 1.4 to $ 1.8 billion.
What are today’s important levels?
According to Nagaraj Shetty of HDFC Securities, such signals are being formed on the Nifty chart at the upper levels, which suggests that the Nifty may cross the important level of 25100. According to him, 25360 and 25400 will be the next upper levels for Nifty on the rise. On the other hand, 25000 will be the support level on the decline. Rajesh Bhosale of Angel One advises to remain positive about Nifty that the index will remain above the level of 25 thousand. Nifty can slip to the level of 24850 only if this level is broken. He has predicted that if Nifty maintains its important support level in the near future, then further growth can be seen. On the other hand, Srikant Chauhan of Kotak Securities believes that generally the signals for the market are positive but due to the overbought situation, the business may remain in a range during this period.
Which stocks to keep an eye on
The impact of the news of Infosys’ partnership with Nvidia can be seen on the stock. Today is the last session of Tata Motors’ DVR trade. After today, trading in DVR will be closed. The impact of the government’s latest decision for the sugar sector can be seen on the stocks. The impact of the announcements related to the business of RVNL and ITI will be seen on the stocks today. There is news in the market about Jai Corp, NBCC, SpiceJet, CDSL, LIC and Lemon Tree and their impact can be seen on the trade.
