Above Stocks
Head and Shoulder Pattern in Bank Nifty Sentiments and Result Session not so good for Banks More Downside Possible CMP : 43888 #BankNifty
Another Gap Down Opening
300 points down from our entry
300 points down from our entry
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Market Metrics: Weekly Roundup
Sensex 65,397.62 ⬇️
Nifty 50 19,542.65 ⬇️
Nifty Bank 43,723.05 ⬇️
Nifty Smallcap 100 12,927.40 ⬆️
Nifty Midcap 100 39,878.75 ⬇️
________
Market Performance Key Takeaways For The Week
★ Nifty fell for a third consecutive session, ending the week with losses. Bank Nifty faces crucial support, and the market may struggle at higher levels, so consider a sell-on-rise approach. Also, the Nifty Midcap Index shows early signs of distress
★ The Bank Nifty closed the week 1.28% lower than the previous week, just above 43700. It's a significant contributor to the overall market's weakness and has hit a consistent support level at around 43600
★ Bank Nifty: Chart distortion suggests a potential for substantial price correction if the lower limit is breached, with the long-term 200SMA around 43200-43000 as a possible support
________
News Highlights For The Week
★ Adani Group is nearing a $3.5 billion loan to refinance debt used for purchasing Ambuja Cements, potentially making it one of Asia's top 10 largest loans this year. The deal may be finalised this week
★ Tata Group is planning to invest another $1 billion in its super app venture, Tata Digital. The new funding is in addition to the $2 billion that Tata Group invested earlier this year
★ Zomato’s 1.1% equity was sold in a large trade on Friday. The seller was likely SVF Growth Singapore, a unit of SoftBank, which had planned to sell 9.3 crore shares for Rs 1,024 crore
★ Apple confronts challenges impacting its growth and valuation, including weak iPhone sales in China, technical problems, and the expectation of a fourth consecutive quarter of declining revenue in November
Sensex 65,397.62 ⬇️
Nifty 50 19,542.65 ⬇️
Nifty Bank 43,723.05 ⬇️
Nifty Smallcap 100 12,927.40 ⬆️
Nifty Midcap 100 39,878.75 ⬇️
________
Market Performance Key Takeaways For The Week
★ Nifty fell for a third consecutive session, ending the week with losses. Bank Nifty faces crucial support, and the market may struggle at higher levels, so consider a sell-on-rise approach. Also, the Nifty Midcap Index shows early signs of distress
★ The Bank Nifty closed the week 1.28% lower than the previous week, just above 43700. It's a significant contributor to the overall market's weakness and has hit a consistent support level at around 43600
★ Bank Nifty: Chart distortion suggests a potential for substantial price correction if the lower limit is breached, with the long-term 200SMA around 43200-43000 as a possible support
________
News Highlights For The Week
★ Adani Group is nearing a $3.5 billion loan to refinance debt used for purchasing Ambuja Cements, potentially making it one of Asia's top 10 largest loans this year. The deal may be finalised this week
★ Tata Group is planning to invest another $1 billion in its super app venture, Tata Digital. The new funding is in addition to the $2 billion that Tata Group invested earlier this year
★ Zomato’s 1.1% equity was sold in a large trade on Friday. The seller was likely SVF Growth Singapore, a unit of SoftBank, which had planned to sell 9.3 crore shares for Rs 1,024 crore
★ Apple confronts challenges impacting its growth and valuation, including weak iPhone sales in China, technical problems, and the expectation of a fourth consecutive quarter of declining revenue in November
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US conducts a high-explosive experimental experiment at a nuclear test site in Nevada following Russia’s withdrawal from the Comprehensive Nuclear-Test-Ban Treaty (CTBT).
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