How will the stock market move this week?

How will the stock market move this week?.the stock market closed lower for the second week in a row.  The Nifty has traded in the range of 315 points in the last few trading sessions.  The Sensex closed at 60067 points and the Nifty closed at 17916 points this week.  Market experts say that the level of 18000 is very important for the Nifty. It is close to it.  The Nifty has gained 1.39 per cent this week.

 In a media report, Milan Vaishnav of Equity Research said the market could see significant movement next week.  The market will see resistance at 18265 while support will be seen at 17865 and then 17680.  If we look at the technical basis, so far there is no sign of a decline in the market.  If the market declines, buyers will dominate and the market will start bullish again.

The potential for growth in these areas

 Technically, media, realty, energy and infrastructure stocks are expected to rebound this week.  Vaishnavism believes that the midcap will do well once again.  Apart from this, public sector enterprise, bank, auto, realty and pharma stocks are likely to rise.  All market signals are strong.  No need to short in this position.  Whenever there is a decline the market should focus on selective buying.

 Sentiment improved

 The economic recovery is on track.  In such a situation the market is dominated by buyers.  Recently, the government has reduced excise duty on petrol and diesel.  In such a scenario, inflation is likely to decline.  With inflation under control, consumer demand will pick up and the pace of economic recovery will accelerate.  The US Federal Reserve said it would not tap bonds this month.  આવતા 15 billion less bonds will be bought every month from next month.

 17777 is strong support for Nifty

 Fed head Jerome Powell said the Federal Reserve would not raise interest rates at present.  In such a scenario, foreign investor sentiment is likely to remain strong this month.  Motilala Oswal Financial Services says it should buy if the market moves towards 18250.  17777 is strong support for the Nifty.