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This week has been full of huge ups and downs, the whole week has been full of events, on Tuesday there was a recovery in the continuously falling market, that is, investors heaved a sigh of relief and the last phase is going on in the current market. News came to the market that America is involved in the war between Ukraine and Russia, President Joe Biden authorized Ukraine to use American ATACMS missiles against Russia
In response to the news that Russia has lowered the limit on the use of nuclear weapons, the day’s gains were ended and the last half hour of the day closed negative. Wednesday was a holiday due to Maharashtra Assembly elections which was held on November 23. After this, negative news came from Adani Group, but the possibility of selling in the next weekend was expressed on Friday. In contrast to the bullish trend seen in the continuously falling market, both Nifty Sensex and Nifty Sensex were up with a good gain of about 2.5 percent. Which is the biggest gain in the last five months, which is worth noting and Nifty Bank also closed with gains. 1.5 percent, now the important question is whether the market has bottomed out? So in this situation it can be said that all the important indicators still have levels which need to be crossed, only then the reversal can be called ripe otherwise as mentioned in last week’s article, it is a sell off on rice, Positivity can be anything. The beginning of the new week is seeing positive bookings but the end of the week is also seeing profitable bookings, overall the wait is mixed.
Nifty 50 (Last Price 23907):- Nifty 50 closed with a gain of 375 points after a weekly volatility of 693 points during the week. Due to the above mentioned low on Thursday, Nifty witnessed continuous volatility during the week and touched a low of 23264. level touched. At one point during the week finally closed above 200 day moving average which can be called a good thing and took weekly 50 day moving average support, in the new week 24128-24335 will be a hurdle and 23500-23350 a key. There will be support.
Nifty Bank (last price 51135):- During this week, Nifty Bank closed with a gain of 955 points after a weekly fluctuation of 1484 points, a significant rise was also seen in Nifty Bank, the special thing is that it is now Closed above 51000 level, 51500-52000 will be an important hurdle in the new week, 50500-50000 There will be support of, in the new week the focus will be on the contribution of private banks in Niftybank. Overall investors heaved a sigh of relief this week, the important thing is that Friday’s bounce shows a ray of hope, the probability of a reversal at this level can be said to be 30 to 50%, but at this level it is slight. It is too early to say that many uncertainties like Maharashtra and Jharkhand election results, Ukraine Russia war, Israel Hamas and Iran tensions, tariffs are hanging over the head like a sword. Considering the possibilities of war, there is a need to be a little more patient in these circumstances…