Weekly Sensex, Nifty and Banknifty outlook : Sensex may test 61000 levels in next week By Mr. Anuj Gupta, IIFL Securities
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Below is Weekly outlook on Sensex,Nifty and Banknifty Outlook by Mr. Anuj Gupta, Vice President, IIFL Securities
Last week we have seen a positive closing in equity market.
Sensex increased by 1.68% at 59793 levels, Nifty increased by 1 68% at 17833 levels, banknifty increased by 2.52% at 40415 levels.
Positive cues from global equity market and FPI's inflow supports the indian equity market. Rupee also appreciated by 0.34% at 79.52 levels. From last three months FPIs are in net inflow.
Technically For the next week we are expecting that equity market may increase further. Nifty support at 17500 levels and resistance at 18100 levels. Bank nifty support at 39400 and resistance at 41200 levels. We are expecting that nifty may test 18100 levels, banknifty may test 41500 levels, Sensex may hit 61000 levels very soon.
Ruppee may appreciate in the coming week and it may trade between 79.20 to 80 levels. Positive equity market and lower crude oil price may support the india rupee. Dollar index is on over bought zone and expecting technical correction which helps to ruppe appreciate.
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