The equity measures of Sensex dropped more than 900 points on Friday to fall below the 76,000 level as a result of a sale from the opposite of the orchard, which detects poor world markets amid growing global trade war. In addition, heavy sold in the heavyweights, Larsen & Toubro and Infosys market, and a sharp correction in global crude prices, which is an indication of recessionary fear, added to gloom, analysts said. The Nifty 50 fell 2.61% to 22,904.45 for the week and the BSE Sensex fell 2.65% to 75,364,69. The indices fell 1.5% and 1.2% respectively. The market cap of BSE-listed firms fell by £ 9,98,379,46 crore to £ 4,03,34,886,46 crore (USD 4.73 trillion). During the week, the BSE Sensex dropped 2,050.23 points or 2.64 percent, while the NSE Nifty fell 614.8 points or 2.61 percent. Technical prospects: Warning before technically, the Nifty broke under all important price and moving average supports, indicating the potential for further disadvantage. The immediate support lies on 22,600, while a decisive offense could open the door to 22,100. At the top, any recovery is likely to face tight resistance in the 23,100–23.400 zone. Interestingly, the banking index shows strength and can continue to perform better. It has immediate support at 50,700, with a stronger support of about 50,000. If the index violates 52,800, it can pave the way for fresh highlights. The divergence between Nifty and the banking index can provide some pillow against an aggressive decline. Strategy: Staying fast, trading selective in the current setup, and traders are advised to maintain a ‘sale -on -increase’ strategy for the index until a clear reversal or a re -test of the 22,100 support level occurs. As the earnings season begins, stock -specific action is likely to dominate, which offers opportunities on both the long and short sides. Bank and financial shares still show consistent strength and can remain in favor. Meanwhile, traders with caution should navigate the broader volatility in the market and consider hedging long positions using index. With uncertainty prevailing, agility and sectoral preference will be key to navigating in the meager waters in the coming days.
D-street ahead: How will the Indian stock market move next week? Your Trading Strategy – Key Technical Calls for Nifty, Sensex | Einsmark news
