Nifty eyes @ 22000, amid red sea tention
Market to remain volatile, correction is due POSTED BY NILESH WAGHELA MUMBAI: The stock market has continued to advance defying the forecasts of experts and at the same time midcap and smallcap stocks are rallying despite high valuations amid experts' warnings. Looking at the economic data and global trends, there is currently no visible trigger to break the boom. In a nutshell, Nifty is eyeing the shores of 22,000 with Rata Samudna red alert. Given the bullishness and high valuations, it seems that the benchmark is likely to cross the 22,000 level easily. But if the market finds any trigger, a quick and sharp crash is also possible . It is also likely that midcap and small cap will see a faster and more severe crash. According to technical experts, the immediate support level for Nifty is 21,800 to 21,900 and if Nifty sustains above 21,800 then it may rise to 22,000 and 22,200. Looking at the fundamentals, crude oil prices rose during the week,...