Weekly outlook on Sensex,Nifty,Banknifty and USDINR By Mr. Anuj Gupta, IIFL Securities
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/08/d069d12d2bf041245fc263903d44cf91.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Below is Weekly outlook on Sensex,Nifty,Banknifty and USDINR Outlook by Mr. Anuj Gupta, Vice President, IIFL Securities
As expected equity market closed on a positive note in the last week. During this week sensex increased by 0.15% and closed at 59552 levels. Howevere it again tested 60403 levels after April 2022. Nifty incresed by 0.34% and closed at 17758 levels. But on another side Banknifty corrected by 0.14% and closed at 38985 levels.
We have seen profit booking in the stock market on higher levels due to technical correction. Prices were trading on a overbought zone and we saw a correction in the segment.
We have also observing some selling activity from FPI's and weak global cues impacted domestic indices as concerns about interest rate hike on the markets.
Ruppee depreciated by 0.21% and closed at 79.87 levels as dollar index increased by more than 2% and closed near to 108 mark.
For the next week nifty may found support at 17500 and 17200 levels. Resistance at 18050 and than 18300 levels. Banknifty may found support at 37500 and 36000 levels, resistance at 40000 and 41500 levels.
We are recommending buy in nifty and banknifty for the next week. For next week one can buy buy on a dips in nifty and banknifty. Buy nifty around 17500 levels with the stoploss of 17200 for the target of 18050 to 18100.
They can also buy banknifty around 38100 with the stoploss of 37400 levels for the target of 40000 levels.
Ruppee may find support at 79.40 and 78.80 levels. resistance at 80.40 and 81 levels. It may trade between 79.40 to 80.40 levels.
Nifty may test 18200 levels, banknifty may test 40500 levels and Sensex may test 62000
Above views are of the author and not of the website kindly read disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/insurance 123.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Axis Securities Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Wipro.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/2b1715f7e03b51b0ac9c014eb224fc1f.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/gdp22.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Geojit Financial Services.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Dollar retures 2.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/health22.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Arvind Kapil, MD and CEO, Poonawalla Fincorp.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/stock8.jpg)
More News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/08/e9825df322d9d619d213fd62946dae5d.jpg)
Market Quote : Optimism in the domestic market was more visible in the IT sector Says Mr. Vi...
![Morning Nifty, Derivative and Rupee comments 22 September 2022 By Anand James, Geojit Financial Services](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/09/94fc9d9e206cfd2b45bf89b160b75f94.jpg)
![Morning Market Quote :Expect lots of stock specific action even within range-bound movement of the Nifty Says Dr. V K Vijayakumar, Geojit Financial Services](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/06/6a283343b58f406f972d4244cfeec2a7.jpg)
![Morning Note : Market Update and Key Stocks 18 November 2022 By Asit C Mehta Investment](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/11/42756643cf022e468bc38d0df12d71f0.jpg)