NSE | BSE | Market This Week |

Market Outlook:The week that went by
The falling Crude oil price was the main attraction for the first half of the week’s trade. On the back of this, Nifty rallied to 4522, after opening
at 4356. However, due to the negative global market situation and the political tensions on the Nuke deal, the selling pressure started in the
second half of the week. The slightly calming inflation figures, which came at 12.34%, failed to make a positive impact in the market. Sensex
opened at 14412, made a high of 15106, and later made an almost flat closing at 14483. Nifty also closed almost flat at 4352.

Technical Outlook :
After a positive start, the market went into a selling mode. The Indices closed almost flat during the week’s trade.
For NSE Nifty, the technical indicators are pointing towards some more downside in the coming week. RSI have moved below the 50 points
mark in the daily chart. Stochastic Oscillators have entered the overbought zone.
At current levels 4280 is expected to act as the critical support level. A fall below this is expected to take the index towards the downside
support of 4070. The first resistance for the week will be 4425; Further, any upside is not expected to extend above 4495.
The Elliott wave analysis of the index is also indicating further downside in the coming days.

Week Ahead :
The outcome of the Nuclear Suppliers Group (NSG) is expected to affect the initial trading session of the coming week. Another thing that the market will be looking forward will be the OPEC meeting , which is scheduled to the next Tuesday (September 9th). The negative figures from the US jobs data also will weigh the market.