Stock Market Strategy: The market condition was very bad on the first day of the March series. There was chaos all around in the market and it closed at its lowest level in nearly 9 months. Sensex fell by 1414 points while Nifty closed down by 420 points. Nifty witnessed the biggest intra-day fall in nearly 8 months. Midcap and smallcap indices also remained in a bad shape. The biggest fall was in the IT index. The IT index closed down by more than 4%. Auto, PSE indices also closed in the red. Selling dominated in energy, pharma, metal shares as well.
The stock market will fall further on Monday
Talking about how the market will move on Monday and how you can invest in stocks and earn profit in a falling market , Ashish Bahety, founder of AshishBahety.com, said that this is the first time in 28 years that the Nifty has fallen for the 5th consecutive month. Heavy selling by FIIs has increased the pressure on the market.
He said that FIIs' selling is expected to continue going forward. In such a situation, keep the strategy in the market that until any sign of reversal is seen, follow the strategy of Sell on Rise in the market. More pressure can be seen in the market from the current level. Although there is a zone at the level of 21800 in Nifty where the market can take support once, but the overall structure of the market looks weak.
Bets were placed on these stocks on Monday
Ashish Baheti has selected two stocks for Monday. He says that it would be advisable to create a "Sell" position in both these stocks. These two stocks are HUDCO and NCC . He says that both these stocks have seen a significant decline. It is expected that both these stocks may face more pressure from the current level.
He said that sell HUDCO with a stoploss of Rs 168. On the downside, a target of Rs 161 can be seen in this stock. Let us tell you that on Friday, HUDCO's stock closed at Rs 165.14 with a fall of 4.69 percent on NSE. In 1 week, this stock has fallen by 12.93 percent while in 1 month it has fallen by 20.90 percent. At the same time, from January 2025 till now this year, this stock has fallen by 29.64 percent.
Ashish Baheti says that the structure of NCC has become very weak. It would be advisable to short this stock for a target of Rs 171. However, for short positions, a stoploss of Rs 178 must be placed. Let us tell you that on Friday, the stock of NCC closed at Rs 175 with a decline of 2.07 percent on NSE. In 1 week, this stock has fallen by 6.37 percent while in 1 month it has fallen by 22.26 percent. At the same time, from January 2025 till now this year, this stock has fallen by 36.11 percent.
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