Indian Stock Markets End 8-Day Losing Streak: What to Expect Next
Indian stock markets ended an eight-day losing streak on Thursday, with the Nifty and Sensex gaining points driven by private banks, auto, and IT stocks. This positive momentum was also reflected in the US and European markets, which reached record highs on Thursday.
Key Factors Driving the Market Rally
The rally in the Indian stock markets was led by private banks, auto, and IT stocks. Bajaj Broking noted a potential short-term bottom reversal, indicating a possible change in market sentiment. The US and European markets also reached record highs on Thursday, indicating a positive global market outlook.
Support and Resistance Levels for the Coming Week
Analysts have offered support and resistance levels for the coming week. The Nifty is expected to face resistance at 18,500, while the Sensex is expected to face resistance at 62,500. On the other hand, the Nifty is expected to find support at 17,800, while the Sensex is expected to find support at 60,000.
What to Expect on Friday
Markets will remain closed on Friday due to holidays. However, investors will be keenly watching the global market trends and the movement of the US and European markets. Any positive momentum in these markets could lead to a further rally in the Indian stock markets.
Top Trending Stocks
Some of the top trending stocks include SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, and NTPC Share Price. Investors are advised to keep a close watch on these stocks and look for buying opportunities.
Investor Sentiment
The investor sentiment has improved significantly after the market rally on Thursday. However, investors are still cautious and are advised to be patient and not to make any impulsive decisions. It is essential to keep a close watch on the market trends and the movement of the global markets.
Expert Advice
Experts advise investors to focus on fundamentally strong stocks and to avoid making any impulsive decisions. It is essential to keep a long-term perspective and to avoid getting caught up in the short-term market volatility.
Conclusion
In conclusion, the Indian stock markets ended an eight-day losing streak on Thursday, driven by private banks, auto, and IT stocks. The key factors that will decide D-Street action on Friday include the global market trends, the movement of the US and European markets, and the support and resistance levels for the coming week. Investors are advised to keep a close watch on the market trends and to look for buying opportunities in fundamentally strong stocks.
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