Markets News

14,200 to be the key support for Nifty – High Volatility expected

A high volatility is expected on the Nifty as there will be a monthly expiry coming up on our way.

The last week, the market closed at marginally lower level. This was the result of high profit booking on the BSE Sensex index.

For a quick wrap up – Sensex rose to 50,000 for the very first time in the history of Indian stock market. On the other hand, the Nifty also surpassed the previous record at 14,750 level for the last week.

However, this rally could not hold its aura for a longer period. At the end of the day, both the indexes again dropped down at a bad note.

The Nifty 50 fell by 61.8 points or 0.42 percent to close at 14,371.9. On the other hand, Sensex dropped at 156.13 points to close at 48,878.54.

According to the experts, we can expect this high volatility to remain as it is for the upcoming season, as we are close towards the month’s expiry.

Also, this volatility is expected to remain high as the Union Budget 2021 is about to release.

We can see more upgrades and hence, it is a good time for earning profits. It is expected that the Nifty 50 can hold in the range of 14,000-15,000 until the Union Budget releases.

Further any change can be expected in post-budget session.

On the contrary, a break down below 14,200 can result in a decline, as per the experts, otherwise , this rally can remain the same.

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