Indian Stock Market Weekly Report

The week that went by

The Indian markets continued the selling during the major part of the week, but recovered a on the last day. NSE Nifty, after opening around
2813, have fell considerably to the week’s low of 2502.9; however, recovery emerged in the market from those levels and the index closed at
2693.45, shedding 117 points from the last week.
BSE Sensex lost 470 points to close at 8915.

Technical Outlook :

The Indian market Indices have recovered slightly during the last sessions of the week’s trading.
NSE Nifty have recovered after testing 2502. It is worth mentioning that the first target of the recent downside was 2550.
The current pull-back from the low is expected to continue in first part of the coming week, but selling will emerge from higher levels. This
upside has a normal target of 2755. However, the market is not expected to cross 2860; before this another downside can start.

Week Ahead :
The global cues will once again direct the Indian indices. The F&O expiry in the next week will make the trading more volatile. The FIIs are
continuing the selling in the market, which is another cause of concern.
Market need to be expected to continue the recovery in the opening days, however, selling will emerge in the latter half of the day.