Nifty50 is now ready to move in the zone of 19200-19300, stock market investors should keep an eye on these triggers from Monday.
Nifty50 is now ready to move in the zone of 19200-19300, stock market investors should keep an eye on these triggers from Monday. Share Market I’ve had a great run in the past week. This uptrend is expected to continue into next week as well. Arvinder Singh Nanda, Senior Vice President, Master Capital Services, said that the Nifty has an upward momentum. However, resistance is seen at 18887-18900 levels. On breaking this level, Nifty50 will move towards 19,200-19,300. On the other hand, if the market declines then support will be seen in the range of 18680-18650. This level will be important for buying. Overall, the market is expected to rise next week as well.
The market will keep an eye on these important figures
The direction of the stock markets this week will largely depend on the trend of global stock markets, trading activities by foreign funds and progress of monsoon. Apart from this, investors will also keep an eye on the movement of rupee and crude oil prices. On Friday, the 30-share BSE Sensex and the National Stock Exchange’s Nifty closed at their all-time high. Market analysts said the US central bank Federal Reserve did not hike interest rates, which boosted sentiment in the local market. Apart from this, positive global cues and inflow of foreign funds also helped the market. Pravesh Gaur, Senior Technical Analyst, Swastika Investmart said, “Indian market is watching the progress of monsoon. Globally, the volatility in the US market may increase in the coming week. The reason for this is that the chairman of the Federal Reserve has to give half-yearly details to the US Congress.Nifty50 is now ready to move in the zone of 19200-19300, stock market investors should keep an eye on these triggers from Monday.
Global indicators will play an important role in guiding the market
According to analysts, sustained recovery in global markets, especially in the US, pushed up local equities last week. Last week, the 30-share BSE Sensex gained 758.95 points or 1.21 per cent. Master Capital Services Ltd. Arvinder Singh Nanda, Senior Vice President, IMD said, “This week the direction of the stock market will be determined by domestic and global indicators crude oil prices, trend in global markets and inflow of foreign and domestic institutional investors.”
the market closed strongly
Last week on Friday, the 30-share BSE Sensex climbed 466.95 points or 0.74 percent to close at a record level of 63,384.58 points. Earlier on December 1, 2022, the Sensex had closed at a level of 63,284.19 points. Similarly, the Nifty climbed 137.90 points or 0.74 percent to close at a new record of 18,826. The previous record level of Nifty was 18,812.50 points. Ajit Mishra, senior vice-president – technical research, Religare Broking Ltd. said, “We believe that going forward, the role of US markets will be important.”
Nifty50 is now ready to move in the zone of 19200-19300, stock market investors should keep an eye on these triggers from Monday.
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