record highs for the Nifty50 and Sensex? What lies ahead after last week’s fresh record highs for the Nifty50 and Sensex?

record highs for the Nifty50 and Sensex? Over the next week, a mix of domestic and international economic data may impact market behavior. On the home front, attention will be on the impending financial reports from big businesses like Apollo Hospital, Tata Steel, and Divis Labs, whose encouraging earnings reports may be able to maintain the bullish momentum.

record highs for the Nifty50 and Sensex?

Sensex

The previous week saw both the Nifty and Sensex reach record highs, sending domestic blue-chip indices to previously unheard-of heights and historic landmarks. The Sensex rose by an astounding 1,400 points to a new record high of 75,636.50, while the Nifty broke above the 23,000 barrier for the first time.

Positive market mood after the Reserve Bank of India announced a sizeable dividend of Rs 2.11 lakh crore to the government propelled this increase.

It is expected that this infusion will support capital investment and help the government reduce its budget deficit, which will increase investor confidence even further.

Over the next week, a mix of domestic and international economic data may impact market behavior. On the home front, attention will be on the impending financial reports from big businesses like Apollo Hospital, Tata Steel, and Divis Labs, whose encouraging earnings reports may be able to maintain the bullish momentum.

Lok sabha election

Furthermore, as the results of the Lok Sabha election draw near, market analysts predict an increase in Foreign Institutional Investor (FII) flows following the decision.

Technically speaking, the Nifty hit the important 23,000 mark and ended the week up more than 2%, but caution is advised as the index gets closer to the upper bound of the rising channel, which is located between 23,100 and 23,200, says Mehul Kothari, DVP-Technical Research at Anand Rathi Shares and Stock Brokers.

Kothari

At this point, Kothari advises taking a profit-booking position. He does, however, highlight the strong support levels at 22,800 and 22,600, which highlight the market’s fundamental strength.

Global variables that may have an impact on market sentiment include rising US bond yields and commodity prices, which include gold, silver, and crude oil. These factors will be continuously watched.

Furthermore, the US and Japan’s economic data releases, together with changes in the world currency market, will also have a significant impact on how the market behaves in the upcoming week.

To effectively navigate the market, investors are encouraged to stay alert and sensitive to these changing dynamics.

In a week that was cut short due to extreme volatility, the Nifty finished the week up 2.2%, with the India VIX rising to a 52-week high and gaining almost 10% in only four sessions. Markets will be impacted by a number of significant domestic and international events that are scheduled to take place during the week when trading resumes on Monday.

“On Friday, the Nifty and sensex reached all-time highs, with the Nifty breaking through the 23,000 barrier for the first time. The Nifty and Sensex see their largest 2-week gains in the previous five months. This week, Nifty Bank is expected to rise by 2%, according to Pravesh Gour, Senior Technical Analyst at Swastika Investmart. He also stated that the Nifty chart structure now indicates a positive trend and that investors should take a buy-on-dip strategy.

While closing the session 0.05% and 0.01% lower, respectively, the benchmark NSE Nifty 50 and S&P BSE Sensex gained 2.2% and 2.02% for the week.

This is how market pulse is interpreted by analysts:

“During the day, Nifty stayed sideways after surpassing 23,000. Over the coming days, sentiment may stay muted, with the index fluctuating

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