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Market Metrics: Weekly Roundup⭐ Sensex: 82,113.12 ⬆️
⭐ Nifty 50: 24,768.30 ⬆️
⭐ Nifty Bank: 53,583.80 ⬆️
⭐ Nifty Smallcap 100: 19,407.30 ⬇️
⭐ Nifty Midcap 100: 58,991.55 ⬇️
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Market Performance Key Takeaways For The Week🌟 The markets witnessed a dramatic week of range-bound trading and a sudden burst of volatility on the last day while the benchmark Nifty 50 ended with a strong gain of 0.89% and closing at 24768.
🌟 While the market sentiment continues to remain bullish for a fourth consecutive week, 24650 - 24600 could now act as immediate support, followed by 24500 as critical support level, while immediate resistance can be anticipated at 25000 and stiff resistance in the 25125 - 25200 zone.
🌟 The market participants are advised to stay focused on identifying the next performing theme for potential gains as the markets have seen a solid recovery from recent lows and the ongoing "Santa Rally" could present stock-specific opportunities.
🌟 BANKNIFTY concluded the week on a positive note, ending with a marginal gain of 0.14% and closing at 53583 while the outlook is now for the index to move towards the 53850 level. The resistance is now anticipated at
53800-54000 and a breakout further could trigger a rally towards all-time highs and then into uncharted territory. On the lower side,
52750-52500 is expected to serve as a robust support zone.
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✨ News Highlights For The Week🌟 Zomato receives tax demand of Rs 803 crore from GST authorities
🌟 Adani-owned Ambuja Cements commissions 200 MW solar power in Khavda
🌟 TCS announces partnership with Landis+Gyr to deliver next-generation energy efficiency solutions
🌟 JK Tyre to get 30 million euros long term loan from German entity
🌟 No problem with Adani funding Colombo Port project: Sri Lankan minister
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Disclaimer:
https://bit.ly/3usSGoH Sources: Angel One Research |
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Date: December 13, 2024
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