Can Nifty, Sensex rally further or will bears reign in? 5 factors to decide market action next week
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Sensex and Nifty extended gains for a second straight session on Friday, led by IT stocks.
- ✓The Nifty recovery could continue if it holds above the 22,750 support zone.
- ✓Investors are now watching Q2 earnings from major banks and rising oil prices, which hit $110 after recent global conflict escalations.
Story at a Glance
- Category
- MARKET
- Reported By
- Economic Times
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
Sensex and Nifty extended gains for a second straight session on Friday, led by IT stocks, which rose for a fourth consecutive session, along with buying in auto, metal and PSU banking stocks. Nifty's recovery could continue as long as it holds above the crucial 22,750-22,800 support zone.
Benchmark indices Sensex and Nifty extended gains for a second consecutive session on Friday. Continued strength in IT stocks, which rose for a fourth straight session, along with buying in auto, metal and PSU banking stocks, supported the rally.
Looking ahead, the 22,800-22,750 zone remains a crucial support. As long as Nifty sustains above 22,750, the recovery is likely to extend. On the upside, 23,400-23,450 remains the immediate resistance zone, a decisive breakout above which could propel the index towards 23,650, coinciding with its 100-day EMA.
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Economic Times
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