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As the Indian stock market enters Samvat 2081, a new year according to the traditional Hindu calendar, market expert Anil Singhvi, Managing Editor of Zee Business, has shared his insights and strategies for investors. Following the Nifty50's impressive 24.5% rally in Samvat 2080, Singhvi anticipates a more subdued market performance in the coming year, predicting a limited range for the index.
Singhvi expects the Nifty50 to trade within a 10% band above its current levels, with a potential downside of 10-15%. He has identified two key support levels for the index during Samvat 2081: the first at 23,400-23,800 and the second at 21,900-22,100. These support levels represent potential areas where the index could find support and rebound from any downward pressure. Conversely, he has set target levels for the Nifty50 at 26,000-26,300, indicating his belief that the index has the potential to reach these levels during the year.
In addition to his outlook on the Nifty50, Singhvi has also offered specific long-term investment recommendations for Samvat 2081. He has identified five sectors that he believes will outperform the broader market during the year. This information is likely to be of particular interest to investors seeking to identify growth opportunities within the Indian stock market. The article concludes with a message of happy Diwali and a wish for prosperous investing, highlighting the festive season and the inherent optimism associated with new beginnings.