Banks in India have not experienced a worse year in the past two decades than 2018.
The Nifty is expected to remain range-bound between 10,700 and 10,950, with stock-specific action.
The Nifty could broadly trade between 10,534 to 10,924 levels in the coming week, says Subhash Gangadharan, HDFC Securities.
Santosh Nair, Editor, Moneycontrol, recaps the weekly market action and shares his insights on the key markers that influenced the market this week. He also talks about the cues to watch out for in the week ahead.
In recent trading sessions, the Nifty has been range-bound, says Swati Hotkar, Nirmal Bang Securities.
The major driver for the market will be Bank Nifty, which has witnessed a breakout beyond its resistance zone.
With the Nifty now in short term uptrend, and closing above the 200-day EMA, the coming week could see the Nifty targeting the recent high of 10,985.
The 50-day SMA and 200-day EMA have turned flat, thereby indicating no clear cut direction for the index.
Santosh Nair, Editor of Moneycontrol joins in to share with us the highs and the lows of the week and the big triggers to watch out for next week.
If you are long in the index, it is time to stay put as long as the index is trading above its 200-DMA.
Put writers are shifting to the higher band which shows strength in the current trend, says Shitij Gandhi of SMC Global Securities.
The market will continue to give some amount of strong upmove in the banking space as Bank Nifty closed above 27,000 levels.
Had it not been for the 40-year trend of money getting cheaper, it is doubtful whether emerging market equities would be as big an asset class today as it has become.
The momentum reading in the lower time frame chart are in an overbought zone.
After opening the day at 10,350, the Nifty has shot up to reclaim 10,500.
The Nifty can climb to recent highs of 10,941 if the immediate supports are not broken.
Kshitij Anand, Market Editor, Moneycontrol wraps the week’s market action.
Despite global volatility, the media and realty indices did well this week, whereas IT and metals underperformed.
Even though the Nifty's chart pattern declined in the last three sessions of the previous week, the uptrend is still intact.
Kshitij Anand, Market Editor, Moneycontrol gives his take on everything that transpired in the markets this week.
Traders should be averse to profit booking on long positions, and should instead focus more on stock-specific opportunities.
Bank Nifty, despite being range-bound, has given a consolidation breakout.
Dhirendra Kumar, CEO of Value Research, says investors who have a solid financial plan in place should not panic.
Any close above the 200-day average would see some movements in the smallcaps and midcaps.
Tune in as Kshitij Anand, Editor – Markets at Moneycontrol, shares all the market action of the week, and also tells us the big cues to watch out for next week.