💫 Market Metrics: Weekly Roundup⭐ Sensex: 79,117.11
⬆️⭐ Nifty 50: 23,907.25
⬆️⭐ Nifty Bank: 51,135.40
⬆️⭐ Nifty Smallcap 100: 17,755.55
⬆️⭐ Nifty Midcap 100: 55,016.85
⬆️✨ Market Performance Key Takeaways For The Week🌟 The markets made a robust rebound, highlighting the resilience and potential for recovery, as the benchmark Nifty 50 settled a tad above the 23900 zone, making a commendable gain of 1.60 percent over the week.
🌟 While the markets would require follow-up buying to demonstrate sustainability,
23600-23500 is likely to cushion any shortcomings and a breach would again dampen the sentiments leading to the lower zone of
23350-23300. The pivotal resistance is expected at
24000-24050 and a sustained buying can lead to an extended bullish rally in the comparable period.
🌟 The market participants are advised to stay selective with stock preference and stay light in positions until a confirmatory buying is not seen in the markets. Also, traders should stay updated about concerning geopolitical tensions, the ongoing Adani saga, and the performance of global equity markets, as these can act as significant catalysts and shape trends in the domestic market.
🌟 BANKNIFTY had a see-saw week and staged a remarkable recovery of 800 points on the final day, closing at the 51135 level with gains of 1.5% for the day. While the index remains uncertain despite this strong finish, the immediate resistance is now expected at
51160-51440 and stiff resistance is anticipated at
52300-52500. The immediate support is expected at
50600-50450, followed by sacrosanct support at
50100-50000.
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✨ News Highlights For The Week🌟 Rupee falls below 84.50/$ for first time on dollar strength as foreign investors continue to pull out
🌟 Sebi investigating if Adani group flouted disclosure rules
🌟 Adani Group shares extend losses, slide another 10%; Kenya cancels $700 million deal
🌟 Avaada Group to invest Rs 5,800 cr to develop 1200 MW pumped hydropower storage proj in Rajasthan
🌟 Zepto raises another $350 million in third fundraise in six months
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Disclaimer:
https://bit.ly/3usSGoH Sources: Angel One Research |
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Date: November 22, 2024
