Limited damage? Nifty is unlikely to touch 22,000: GeoGit’s Anand James

Looking at the flatish range last week, the Nifty loss will not be able to extend up to 22,000 in all ways, says Anand James, chief market strategist of GeoGit Financial Services. “We think an attempt to overthrow the 22,550-22,300 region may appear once.”

Quotes edited from chat:

The Nifty bear snatched the hopes of the rebound in a week. How strong is the possibility of the index falling below 22,000 in the next 2-3 weeks?

Last Monday, a solid re -recovery procurement of the sub -22,800 masked the sale of the rest of the week. We went with a feeling last week that a big break was imminent, but despite taking part in 22,800, sinking this week. We think this just delays the inevitable. However, after watching the flatish range last week, the breakdown of the loss will not be able to extend up to 22,000. We think that once in 22,550-22,300 regions, the effort of upheaval may appear.

Given the fact that the market has been on a negative trend for the last five months, do you think the purchase of DIP is not clearly working because sales are the best strategy for traders?

We have seen green shoots here and there, but there is less evidence to indicate that this is extensive based, or in durable upscing construction. Unless such signs appear, we feel that there is still scope for more time and price improvement before the power appears.

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Smallcap and Microc APP indicators have been the worst hit. Will you see more pain further in the market?

While they have been the worst hit, the components of the micro cap are a specialty of the recovery achievement effort so far this month. From September Peak, more than 20% of micro caps so far, 7.2% of the people have recovered about 50% of their decline, and from the top of the peak, about 15% of the micro caps, have been recovered by about 15%. This is just a sign of special stock purchases and there is no evidence that there is a risk to the approach to broad-based bounce backs or lower cap stocks. Not at least yet, but the signs can add next week.

Godrej Industries’ stock has seen a constant rally. What are the charts that suggest?

Given the fact that we are closer to the peak of December, the broad market continues to see a decline, the current uptrend is definitely against the drama race. Although this is a temptation to see this as a sign of strength, the rewards for entry are no longer favorable.

After the intense drop seen in the M&M on Friday amid threats of Tesla potential entry into the Indian market, do you think there is a case of buying fears?

Low Rs. 2,700 has been stripped of multiple damage efforts since the middle of 2024. Looking at the motion of the downtrand, we can see the same penetration. However, the oscillators have softened after a month long downtrend, and are indicating a potential turn. We think a one or two -day downtrend can encourage traders to be at risk and pick up stock. We think the upsing will stop without disturbing Rs 2,580, where the stop loss can be kept.

Give us your top ideas for weeks.
Rallis (218)
See – Buy
Target – 238
Stop loss – 210

The stock has dropped since October 2024 Catber and it seems that the weekly scale supports around the growing trendline support of 203, forming a hammer candle, indicating a potential effort to withdraw. The oscillator has begun to show positive diversion by indicating a possible contrast. We expect the stock to move towards 238 in the next few weeks. Protect all long with stoploss placed below 210 layers.

(Disclaimer: The recommendations, suggestions, opinions and views given by experts are their own. This does not represent the views of the economic time)