The Indian stock market ended the last week on a cautious note. Investors were concerned about global events and upcoming domestic developments. The Nifty 50 closed at 24,853.15 and the Sensex at 81,721.08, both slightly lower, reflecting uncertainty in the market.

Indian Stock Market Market Performance Summary

Last week, the Sensex dropped by 609.51 points (0.74%) and the Nifty declined by 166.65 points (0.66%). This came after a strong 4% rally in the previous week. Most sectors, including auto, IT, and FMCG, saw losses. However, realty and metal stocks continued to perform well for the second straight week.

Investor Sentiment and Key Reasons

The mixed corporate earnings, delays in the India-US trade agreement, and selling by foreign investors in three of the four trading sessions made investors cautious. Mid-cap stocks fell by 0.7%, while small caps gained slightly. Interestingly, defense stocks still attracted buying interest.

Key Technical Levels for Nifty and Bank Nifty

Experts say Nifty is in a consolidation phase. It needs to stay above the 24,500 level, which is an important support zone. If it drops below this, the next support level is 24,100. On the other hand, if it breaks above 25,200, the market may turn bullish again and possibly move toward 25,600.

For Bank Nifty, the key support is between 54,600 and 54,500. It has shown strength by holding above its 21-day EMA. If it crosses 55,700, a rally up to 56,200 is possible.

Strategy for Traders Next Week

Experts suggest maintaining a positive outlook unless Nifty falls below 24,500. Stock selection is key. Sectors like banking, energy, metals, and real estate look promising. Traders should use stop-loss orders and stay updated on global and local news for better decisions.

The market is in a wait-and-watch mode. Support and resistance levels are clear, and careful trading with proper risk management will be crucial next week.

Also Read:5 Biggest Business Failures of Mukesh Ambani and What Went Wrong

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