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Market Metrics: Weekly Roundup⭐ Sensex: 78,041.59 ⬇️
⭐ Nifty 50: 23,587.50 ⬇️
⭐ Nifty Bank: 50,759.20 ⬇️
⭐ Nifty Smallcap 100: 18,714.30 ⬇️
⭐ Nifty Midcap 100: 56,960.75 ⬇️
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Market Performance Key Takeaways For The Week🌟 The markets witnessed a dreadful week as key indices fell dramatically and erased the gains of the last four weeks with the benchmark Nifty 50 falling into a bottomless pit, marking a total loss of nearly 5% or 1200 points and closing at 23587.
🌟 While the market sentiment has turned bearish,
23200-23100 could now act as potential support zone while a breach can cause a further downside towards 22800. An intermediate resistance is expected at
23800-24000 followed by stiff resistance in
24150-24300 zone.
🌟 The market participants are advised to stay cautious, consider the recent developments, and approach the markets with proper risk management and refrain from taking complacent bets for the time being.
🌟 BANKNIFTY endured a brutal week and lost nearly 2000 points or 5%, closing at 50,759. While the overall outlook remains bearish, the participants are advised to use any rebounds toward immediate resistance levels in the
50950-51110 zone to initiate fresh bearish positions. The immediate support is expected in the
50660-50600band and major support zone is anticipated at
49800-49700.
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✨ News Highlights For The Week🌟 Accenture ushers in holiday season with $1.2 billion in Gen AI orders
🌟 Industry pushes for simplified GST structure amid concerns over 35% slab proposal
🌟 Adani Group plans Rs 20K crore super critical thermal power plant in Bihar
🌟 HC upholds tender awarded to Adani Group to redevelop Dharavi slum sprawl
🌟 'India charges a lot': Donald Trump threatens 'reciprocal' tariffs
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Disclaimer:
https://bit.ly/3usSGoH Sources: Angel One Research |
Mint | FE | BS |
ET |
BS |
Date: December 20, 2024
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