Stock Market Last Week Report (8-12N)

Technical Analysis

Sensex : 60668.6

Sensex is closed in green at 60,668.6 levels by gaining 914 points or (1.53%) in this week. It has moved total 900+ points in week. The support level for this week is 59,600 and that is remain almost same for previous two weeks. Sensex is sustaining here and it preparing to go ahead. It is creating base here between 59,000 - 61,000 levels with small drops and technically that is good.

Nifty50 : 18102.75

Nifty50 has gained by 273 points (1.53%) and closed at 18,102.75. it has sustained above the 17,700 levels and that was support. It seems like there another suport at 17,900 and nifty will keep that in next incoming week. It is gaining above the previous supports. 17000 and 17,600 and this is good for trading positions.

Nifty50 will hits the new highs levels in the incoming weeks upto 18,500 and above that futher based on this supports if it sustain successfully here.

BankNifty: 38,733.3

Bank nifty has closed in red by losing 650+ points (-1.69%) in the week at 38,733.3 levels. Nifty banks performed well in the last two three weeks if you see the last week reports. The support levels for it 38,400 for this week but it maintains above 38,000 levels. It will struggle between 38,400 and 39000 levels and then it will move towards the 39,500 and further that but it needs to sustain here.