Share Market Weekly Review: Inflation figures, industrial production,, and global economic events will prove to be important for the Indian stock market next week. The market declined last week, and investors will now be looking at these figures and the activities of foreign institutional investors (FIIs), which can determine the future trend.

Inflation and industrial production figures

Inflation rate and industrial production (IP) data are to be released next week in India, which can affect the investor sentiment. If inflation rises, there can be pressure in the market, because due to rising inflation, the central bank can increase interest rates, which will have a negative impact on the market.

FII selling and dollar impact

Last week, foreign institutional investors (FIIs) sold heavily in the Indian stock market, causing a decline in the market. Between 4 and 8 November, FIIs sold shares worth Rs 19,638 crore. At the same time, the strength of the dollar is also putting pressure on the Indian market. When the dollar strengthens, Indian investors get low returns, due to which foreign investors try to exit the market.

Technical Outlook of Nifty and Bank Nifty

According to Santosh Meena, Head of Research, Swastika Investment, Nifty's 20-day moving average is around 24,500, and it is having difficulty moving above it. If Nifty manages to cross this level, then short covering can be seen in the market. After this, the next key levels for Nifty will be 24,700 and 25,000. Downside support is at the levels of 24,075, 23,800, and 23,500.

The range between 50,500 and 52,500 is crucial for Bank Nifty. If Bank Nifty falls, it may get support from 51,800 and 51,300 levels, while a fall to 50,800 is possible if it falls further.

It is worth noting that the direction of the Indian stock market in the coming week will depend on inflation figures, FII activities, and the dollar situation. Investors have to be cautious and keep an eye on the market movement, because the combined effect of all these factors will affect the stock market situation.