Week Analysis Report (15-18 N)
Indian Stock Market Last Week Analysis (15-18N)
All the four indices of indian market Sensex, nifty50, niftybank, nifty midcap100 has closed in red and down by more than (-1.5%).
Sensex: 59636.01
Sensex is closed at 59636.01 , by losing 1050 points or (-1.73%) in this week.
It Looks like its correction over the last week gain from 59,700 levels. It has sustained above the 59600 levels at first support of 59,200 and second support is at 59,000.
It is gradually decreasing. the momentum is less as compare to the rising incline graph of sensex.
We can expect it will go down to 59,000 levels if it falls in next weeks then it could be 58750 and then 58,500 level because there is again support of at 58,000 so it will not fall much further.
Nifty50: 17764.80
Nifty lost 337 points or (-1.86%) and closed at 17764.80.
Nifty maintained above the 17,700 levels and it was also support level and it has still sustained above the 17,600-17500 level support.
Nifty will maintain above it surely and but need to sustain here to hit 18000 levels and above. If you see the nifty is in strong state and has not decreased more from high levels.
NiftyBank : 37976.25
Niftybank is down by 757 points (-1.95%) and closed at 37976 level. It is constantly declining from high level.
It sustained above 37,800 levels at last of week. And that is support for week.
(moneycontrol.com)
39100 level remains the resistance for the week.
It has broken the 38,000 support so it well come down in coming week but there is support at 37,700 and second one is at 37000 .
If it falls then it can go to the 37000 levels and below that. Then it would be nifty banks major decline by points in one month.
Key Points:
Market is trying to adjust as per national and international affairs
In indain market its good oportunity for traders to take advantages of major falls of banknifty.
Nify50 is in strong state and good for short term investing as compare to 3 month stocks performance.
Crude oil prices are decreased over three weeks
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