Weekly Outlook on Sensex, Nifty, Banknifty and USDINR By Mr. Anuj Gupta, IIFL Securities
Below is Weekly outlook on Sensex,Nifty,Banknifty and USDINR Outlook by Mr. Anuj Gupta, Vice President, IIFL Securities
Nifty / Banknifty / Sensex / USDINR
We have seen a historic week for the Indian stock market. Nifty made a new lifetime high 19201 levels, banknifty made a new high of 44787 levels and sensex made a 64768 levels. The trend of the Indian stock market is positive and we are expecting the market may rise further. Technically and fundamentally markets are looking strong.
For the next week nifty has a strong support at 18900 levels and resistance at 19400 levels. Bank nifty has a strong support at 44200 levels while resistance at 45200 levels. Sensex has a strong support at 64200 levels while resistance at 65300 levels.
We are expecting nifty may test 19400 levels, banknifty may test 45200 levels and sensex may test 65300 levels. FIIs inflow, positive economic data and positive cues from the international market are the major supportive factors for the Indian stock market. Rupee is strengthening against the dollar which is also positive for the market. We are expecting that Rupee may appreciate and may test 81.50 to 81 levels very soon against the dollar
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