Indian Stock Market Week Report(18-22oct); Sensex, Nifty50, Banknifty

Sensex :60,821.62

Sensex is closed in red mark at 60,821.62 and has down by 484.28 points or (-0.78%) than last week.inflation

Sense has decreased by total more than 1650 point in this week.

Sensex is failed to keep new high levels of 62,000 this week but sustained above the support levels of 60,400/500 than previous of 60000 There is resistance of at 62,200.inflation

This seems like Sensex is struggling between these new high levels to sustain.

inflation If you look the graph on Thursday and Friday it was struggling to go up from 60,600 to 61350. From this if it will sustain above support levels then it will recover in next week and breaks the new high levels.

Nifty-50:18114.90

Nifty has closed at 18,114.90 by losing 223.6 or (-1.21%) points on friday.

Nifty lose total 550 points from low to high levels. It has sustained above 18,000 level. There is support at 18000 levels as said in last week report. Nifty Needs support here to sustain above 18,350 and touch the new highs of 19000.

inflation Nifty will sustain above 18000 Levels and now it is struggling but if it breaks the 18000 then it will come down to 17,300 -17800 Levels.

Banknify: 40,323.65

Banknify has closed in green at new high levels of 40323.65 by gaining 982.75 points or (+2.49%) in this week.

inflation It has sustained above the 39,300 levels and that is support for it. It has broken all the previous resistance levels. It has created good base between 39,300- 39000 levels and based on this it hits the new highs above 40,500.

inflation There it has created support at 40,200 Levels if it will maintain then it will go to hit new levels 41,000 otherwise will keep between 39,000- 40,200.

Trader can think about it because it has good opportunity to make profit in next two weeks.

Points To Consider:

inflation • Bank nifty stocks are gained by nearly 3.31% in this week.

• Crude oil prices are constantly increasing and has maintained levels above 6000 rs.

inflation • Market is at high levels so it can be drop in small or medium percent so dont be suddenly panic.

• Short term investors can take advantages of this small ups and downs for short term delivery trading.

inflation • Sensex and nifty50 stocks are performing good for weeks over weeks you can take alternate positions to make profit.

• Don't believe on baseless news and thoughts of peoples from market it can make your loss take study based decisions that is much better.

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