Please tell us what kind of feeling is the market movement you are looking at today. Currently, it is below the 23,600 mark. So, as we are currently seeing some weaknesses in both these indices, what is the next level of finding both Nifty Bank and Nifty Bank charts?
Rohit Srivastava: It’s been a bit weaker yesterday too, so after getting consistent profits for six days at Nifty and maybe five consistent profits at Nifty of 5 banks, we’re getting our first pullback. Are many people going to get this? Well, you’re getting it. But it’s probably wrong to think that it will be important. It will only become part of a small, two- to three-day integration with ongoing uptrends. That’s how we consider this.
Nifty’s immediate support comes in at around 23,500. When thinking about Nifty, immediate support should approach around 51,150 and approach those levels.
If we exceed 23,000, we have set up a larger trend reversal course throughout the fall, which began in late September and early March, so we think we need to minimize the retracement of 61% this fall.
In Bank Nifty, we probably did a lot more because we were actually leading in a way. So, we’ve already gone back 61% at the next level, so if we’ve surpassed this range of about 52,150, we’ll probably head towards 53,000.
Given the fact that you gave us a benchmark or a taste of benchmarks to expect, I just wanted to identify your views, but what about the sector? Given the fact that you saw quite a few fixes, which sectors look good to you? Now we’re seeing some of those or rather sector rotations actually happening.
Rohit Srivastava: So, where can we get the greatest profit if the two parts of this are, of course, the rotating part of the sector and the second is outperform, and the holding period is at least three months or more? So, when you’re thinking a bit mid-term or long-term, you’ll want to see a sector where the market has really given you credibility over the past month and a half. PSU stock, then metal stock. These are three that stand out: goods, PSU and finance. Currently, there is oil and gas.
So we leave four major sectors behind. This is a fruit or low rating sector that is hanging lower compared to the high rating sector, as it sticks to when considering slightly larger performance over the medium to long term, so money is on the rise from 2022 onwards. Six months, that’s the setup.
But the second part is rotation. It was one of the sectors that had been postponed until December and has become one of the worst performers recently. As the recent US market has run out of stock and the next season enters the IT sector appears to be ready to start a rotation. So, while performance is low, you can show short-term performance based on it, so you need to actually see it.
