Equity Weekly Market Updates

Market Snippet

  •  Nifty tumbeled forming bearish hammer candle on weekly chart and closed at 10694.80.
  • SBI to shut down 9 foreign branches, as part of rationalization.
  • Moneycontrol in Hindi, Infibeam Incorporation has partnered with Network18 Group.
  • GMR Infrastructure made a successful bid to develop a Greenfield commercial port through Swiss Challenge mode.
  • Tata Elxsi has been at the forefront of integration and implementation of OTT Video solutions for leading operators and entertainment companies around the globe.
  • NOCIL commissioned Phase -1 of expansion of capacities of Rubber Chemicals at its Navi Mumbai plant.
  • Auropharma got final approval from the USFDA to manufacture and market Ertapenem Injection 1 g/vial.

Weekly Market View

Nifty started the week in negative terrain and throughout the week traded with same sentiments but in late trade it reversed the losses and regained its positive zone and closed the session with strong gain above its phsycological level of 10700 marks. One can expect upside movement if it able to cross its immediate resisatnce mark of 10835 and its immediate support mark is 10500

Weekly Nifty Bank View

Nifty bank had started a week at a negative note and extended losses throughout the week and ended the day on moderate gain. In daily chart it manages to close below 8 days EMA which supports bearish view. The immediate resistance and support level is 26500 and 26000.

Global Markets Update

World markets had mixed trading as US stocks recovered from earlier declines on Thursday to finish the session higher on the back of gains in banks and technology stocks.US S&P 500 settled at 2718.37.The German index DAX closed at 12306.00.The Asian peers closed the bell with Japan’s Nikkei 225 closing the week at 22304.51 and Shanghai composite at 2847.42.

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