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Stock Market Weekly Outlook: Last week was very good for the Indian stock market. The market made a new all-time high. Sensex, Nifty, and Nifty Bank all broke their records.
What was the reason for the rise in the market?
The main reason for the rise in the market was the reduction in interest rates in America. Apart from this, the US economy is also strong. This has increased the confidence of investors.
Weakness in the IT sector
The IT sector has been witnessing weakness for the past one month. The IT index has fallen by 2.75 percent. The performance of midcap and smallcap stocks has also been weak.
FII buying
Foreign institutional investors (FII) bought shares worth Rs 11,517.92 crore. During this period, domestic institutional investors (DII) sold shares worth Rs 633.67 crore. This shows that FIIs have more confidence in the market.
nifty status
Nifty closed at 25,790 last Friday. This shows that the market is bullish. Analysts believe that Nifty can go up to 26,200. Support levels are 25,500 and 25,200.
Prospects of Banking Index
Nifty Bank also closed at an all-time high. Its next targets include 54,290, 54,750, and 55,225. Support levels are 53,000 and 52,800.
FIIs are long index futures.
FIIs hold about 76 percent of the long index futures. This suggests that the market may continue to rise.
This week's factors
This week the stock market movement will depend on many factors:
FII data: FII buying data will be important.
Futures and Options Expiry: This month's expiry will be impacted.
Crude oil prices: This will have an impact on inflation.
Economic data: Domestic and global data are also important.
Keeping all these factors in mind, investors have to make decisions carefully.
