(25-29Oct) Market Week Report
Stock Market last Week Report (25-29 Oct)
All the market has closed in red. All three indices are down by more than 2.4% in this week.
Sensex: 59,306.9 (-2.49%)
Sensex is closed at 59,306.9 by losing 1514.72 points in week than last week.
Sensex moved total nearly
2453 points from weeks low to high level.
There is resistance at 61,500 level and there was support at 60,500 Levels till thursday but broke that level and come back to current levels.
Sensex sustained above the 59,000 levels and that is strong support for the week.
This has been support levels for whole October month.
It is a small decline from the high levels because graph technical tendancy and investors profit booking behaviour.
Nifty50: 17671.6 (-2.45%)
Nifty is closed at 17671.6 and down by 443.9 points in week.
It has moved total 700+ points from low to high.
Nifty sustained above the 17,600 levels and keep that levels as mentioned in the last week report between (17300-800 ) if it beaks the 18000 level.
It will keep coming down in next week if selling continues by a 600-700 points but there is support at 17000 so it will have ability to sustain above it.
Nifty has moved but came to same average levels for all month. It will struggle here between 17000-18000 to create support and then it will start gaining after diwali.
Bank Nifty: 39,115.6 (-2.99%)
It has stopped at 39,115.6 levels by losing 1208 points in this week but this is not much dropped as compare to previous two-three weeks.
41700 remains the high levels for niftybank and 41300 is the resistance levels. There was support at 40,000 Levels but it has broken and fall down but sustained above the 39,000 levels and that is current support levels and as said in the last week report
(18-22 Oct)
It looks like it will struggle here to sustain but if it fails then it will come back to 38,600 levels.
Trader can take advantage of it if they carefully take this levels into accounts.
Key Points:
• Strong selling is happened whole the week.
• Market will fluctuate here because it is at high levels but investors fear makes it to go down little more. It is correcting between new high levels.
• IRCTC stocks has split so it is good opportunity for new investors to invest for little long terms period . current price is 845 rs.
• New IPOs are incoming investor can start investing journey with it. Its good opportunity to invest in new companies and future out performers.
• Last Two three weeks were very good for traders both equity or derivative. traders has booked good profit in nifty50 and bank nifty trend.
• Market study makes you to take good decisions so you can book good profit in strong trends.
Related Posts:
Week Report(18-22 Oct)
Week Report (11-14)oct
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