Weekly Market Analysis : Markets edged lower amid excessive volatility and lost over one and a half percent Says Mr. Ajit Mishra, Religare Broking
![](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.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 the Quote on Weekly Market Analysis by Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd
Markets edged lower amid excessive volatility and lost over one and a half percent, tracking feeble global cues. The tone was negative from the beginning, which further deteriorated with a decline in world indices however rebound on Friday trimmed some losses. Finally, both the benchmark indices, Nifty and Sensex, settled at 22,147 and 73,088.33 levels respectively. Meanwhile, all the key sectors felt the heat wherein IT, realty and banking were among the top losers. The broader indices also witnessed pressure and shed in the range of 1.4%-2.7%.
We expect volatility to remain high in the coming week too, citing the feeble global cues and ongoing earnings season. Among the key world indices, the Dow Jones Industrial Average (DJIA) is hovering around its medium term support zone of 100 DEMA i.e. 37,800 and if fails to hold the same then the 36,900-37,200 zone would be the next major support. In case of recovery, the 38,150-38,500 zone would act as a strong hurdle.
The pace of the rise has been gradual for the last four months and Nifty has penetrated the lower band of the rising channel but managed to close above the same. We need sustainability above short term moving average i.e. 20 DEMA, which currently lies around 22,300 to strengthen the recovery. On the downside, we expect the 21,500-21,700 zone to act as a cushion. Meanwhile, traders should continue with a hedged approach amid the mixed indications and wait for clarity.
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)
Tag News
![](https://portfolio.investmentguruindia.com/uploads/news/stock8.jpg)
Sensex ends lower ahead of Union Budget 2024-25
![Daily Market Analysis : The markets began the week on a subdued note and ended nearly unchanged, reflecting caution ahead of the Union Budget Says Mr. Ajit Mishra, Religare Broking Ltd](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)
![Post Market Comment by Mandar Bhojane, Research Analyst, Choice Broking](https://portfolio.investmentguruindia.com/uploads/news/Broker _26.jpg)
![Mid-Market Comment by Mr Shrey Jain, Founder and CEO SAS Online - India's Deep Discount Broker](https://portfolio.investmentguruindia.com/uploads/news/Shrey Jain.jpg)
More News
![](https://portfolio.investmentguruindia.com/uploads/news/Broker _12.jpg)
Daily Market Commentary : However broader market ended in green with Midcap100 up 0.1% while...
![Mid-market comment by Mr Shrey Jain, Founder and CEO SAS Online - India`s Deep Discount Broker](https://portfolio.investmentguruindia.com/uploads/news/shrey jain.jpg)
![Daily Market Analysis : Markets traded volatile for yet another sessionsays Ajit Mishra, Religare Broking](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)
![Daily Market Analysis :Nifty quickly gave up its gains and traded within a narrow range until the close Says Mr. Ajit Mishra, Religare Broking Ltd](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)