Weekly Share Review / Stock market expected to continue rising


New Delhi. The Indian stock market, which closed weekly trading on Thursday due to the Dussehra holiday on Friday, closed after trading strongly for the second consecutive week. Based on the technical indicators of the market, experts believe that apart from minor corrections, the stock market may continue to rise this week as well.

The Bombay Stock Exchange (BSE) Sensex closed at 61,305.95 points, up 1,246.89 points during the entire week of trading. On the other hand, Nifty closed at a record level of 18,338.55 points with a jump of 443.3 points. During the entire week’s trading, the Sensex was up 2.07 per cent, while the Nifty jumped 2.47 per cent in its weekly trade.

During the trading of the last week, there was a great rally in the small cap and mid cap sector stocks. This week there were 63 stocks in small caps, which jumped from 10 to 39 per cent during weekly trading. The names of companies like Network 18 Media & Investments, Orosil Renewables, Inox Wind, New Land Laboratories, Maharashtra Seamless, GOCL Corporation, Borosil, MSTC and Svelect Energy Systems can fall in these stocks.

While these companies took full advantage of the rally in the stock market, the shares of companies like Chambal Fertilizers & Chemicals, Nazara Technologies, Bajaj Hindustan Sugar, SREI Infrastructure Finance, BLS International Service and Shriram EPC declined by 10 to 18 percent. also recorded.

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Stock market experts believe that Nifty has clearly indicated strength by making a closing level above 18,300 points on Thursday, the last trading day of the week. This index is getting strong support at the level of 18,250. In such a situation, if there is no major reversal, then the Nifty can also be expected to reach the level of 18,500 in the next few trading sessions.

On the other hand, Prashant Dhami, Vice President, Dhami Securities, says that the Nifty has a resistance position between 18,400 to 18,500 points at the current level of the stock market. So, if this index falls to this level, then investors should not delay in booking profits. If late, they may also have to face loss.

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On the other hand Shyam Bajaj, President of Bajaj Securities, says that if the Nifty maintains its level continuously instead of falling below the 18,250 mark in the trading week starting on Monday, then by the end of the week, the index will reach the level of 18,550. could reach. Because all the technical indicators of the market are currently showing signs of strength. In such a situation, the market may remain strong during the coming week as well.

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