Everything’s fine. This is what Nifty 50, Sensex and Nifty Bank lists indicate after smart recovery last week.
The reference indices opened Monday in the week. But from then on, they managed to recover again throughout the week and recovered almost all the loss. Nifty and Sesex fell around 0.3 percent for the week. The Nifty Bank index, on the other hand, fell by a percentage.
Last week we had said that a lateral consolidation is possible in a scenario of cases of sausages. That seems to be working very well. In addition, as mentioned, the fall of last week actually gave a very good purchase opportunity in Indian markets.
Among the sectors, BSE consumption consumption rates and BSE FMCG indices increased more last week. They had 3.49 and 3.34 percent respectively. The Realty BSE index, a low 4.08 percent was defeated more last week.
FPIS sale
Foreign portfolio investors (FPI) continued selling Indian actions. They sold around $ 2.47 billion in last week. The month of May has seen a net exit of approximately $ 3.68 billion of the Indian equity segment.
Video Credit: Businessline
NIFTY 50 (22,828.55)
Nifty opened with a wide gap last week with 21,758.40 and touched a minimum of 21,743.65 in the first operations on Monday. But from then on, the index managed to return very well to recover most of the loss. Nifty made a maximum or 22,923.90 on Friday before closing at 22,828,55, 0.33 percent less for the week.
Short -term view: The bias is positive. The IMEDIATED SUPPORT is 22,700. Under that, 22,450 is the next import support. NIFTY can try 23,100-23,200 in the short term. A break over 23,200 can take the index up to 23,900-24,000 in the short term.
This 23,900-24000 is a very crucial resistance zone. Nifty has to obtain a decisive rest above 24,000 to increase the bullish impulse and also to confirm a reversal of trends.
On the other hand, Nifty will be under pressure only if it decreases below 22,450. If that happens, we can see a drop at 22,000 or 21,700 again.
Graphic Source: TrainingView
Medium term view: The crucial support to 21,700-21,650 remains very good. That keeps the ingenious in a lateral range as a sea of the monthly table. Then, while the ingenious remains above this support zone of 21,700-21,650, the bias will remain bullish.
As mentioned above, a break greater than 24,000 will confirm the reversal of the trend. Such a break will take the NIFTY to 25000-26,000 initially. It will also keep the doors open for the ingenious to sign up 28,000-28,500 in the long term.
This upward view will go wrong only if the ingenious breaks below 21,650. In that case, the danger of a fall to 20,000-19,500 will enter the scene. But such a fall seems less likely.
Nifty Bank (51,002.35)
The Nifty Bank index fell to a minimum of 49,156.95 and then has risen above the 50,000 psychological brands. The index touched a maximum of 51,244.70 and closed the week in 51,002.35, 0.97 percent less.
Short -term view: The strong and immediate ascent again above 50,000 last week maintains the positive bias. The support for the Nifty Bank index is 50,000-49,900. A strong increase in follow -up from here can take up to 52,000 initially. A possible rest above 52,000 will make the index move up to 52,800 or 53,100 in the next week.
An increased to 54000 will enter the image once a decisive break is seen above 53,100.
The short -term view will become negative only if the Nifty Bank index is broken below 49,900. Such rest can drag the index to 49000 or only 48,000. But such a fall seems less likely. We hope that the Nifty Bank index will remain above the 50000-4900.
Graphic Source: TrainingView
Medium term view: There are no changes in the general panorama. The view is still optimistic. The rest above 53,100 and the increase to 54000 will strengthen the bullish impulse. Then the road to the rally will clear to 58,000-58,500 in the long term.
We repeat that 48,000-47,700 will continue the crucial support zone. A fall below 47,700 is needed to deny the bullish view and drag the Nifty Bank index at 46,000. But such autumn seems unlikely.
Sensex (75,157.26)
Sensex rose sharply after making a bass or 71,425.01. The index reached a maximum of 75,467.33 before closing the week at 75,157.26, 0.28 percent less.
Short -term view: The bias is positive. The IMEDIATED SUPPORT is at 74,800. Under that 73,700-73,600 is the next import support zone. The resistance is at 76,150-76,200, which can be tested this week. A break above 76,200 can lead to Sesex to 77,300-77,500 initially. A possible rest above 77,500 will clear the way for a 78,900 and 79,100 test in the short term.
Sensex has to decrease below 73,600 to become negative. Only then can 71,000 resort.
Graphic Source: TrainingView
Medium term view: The broader image remains positive. Strong supports are 71,500 and 70,800. The region between 78,900 and 79,100 is a key resistance zone. We hope that the Sesex Viole 79,100 in the future. That will increase the bullish impulse and take the index up to 90,000 in the long term.
Sensex has to decrease below 70,800 to deny the aforementioned upward vision.
Dow Jones (40,212.71)
The Dow Jones industrial average was very volatile last week. The index fell to a minimum of 36,611.78 and then increased abruptly recovering all the loss. The index has closed the week in 40,212.71, an increase of 4.95 percent.
Graphic Source: TrainingView
Perspective: The immediate perspective is an uncle. The resistances are 40,800, 41,700 and 42,250. The Dow Jones can rise to test thesis resistances if it manages to keep over the support at 39,500. On the other hand, if the index decreases below 39,500, it can return to 38,000-37,000 again. It is a waiting and observation situation now.
Posted on April 12, 2025
