The NSE Nifty 50 and BSE Sensex dropped 0.33% and 0.68%, respectively for the week.
On Friday, the Nifty and Sensex struggled for direction, before closing marginally higher, led by a rebound in the final two hours in financials after Thursday's slide. The Nifty 50 settled 0.30% higher at 21,782.50, while Sensex rose 0.23% to 71,595.49.
«Nifty found support at 20-DMA for the second day in a row. The trend could weaken if it decisively drops below 21,690. A decisive fall below 21690 may trigger a correction towards 21,500. On the contrary, if it moves above 21,800, we might observe a recovery in the near term,» said Rupak De, LKP Securities.
Jatin Gedia – Technical Research Analyst at Sharekhan, said, «On the upside, Nifty can rise towards 21807 – 21830 where the key hourly moving averages are placed. Overall, the sideways price action is likely to continue. The range of consolidation is likely to be 21600 – 22050.»
That said, here’s a look at what some key indicators are suggesting for Monday's action:
S&P 500 closed above 5,000 for the first time on Friday and Nasdaq briefly traded above 16,000, with boosts from megacaps and chip stocks, including Nvidia as investors bet on artificial intelligence technology and eyed strong earnings data.
The Dow Jones Industrial Average fell 0.14%, to 38,671, the S&P 500 gained 0.57 %, to 5,026 and the Nasdaq Composite gained 1.25 %, to 15,990.
European shares ended slightly lower on Friday as advances in
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