Weekly Big Picture – Benchmark Indices Make Record Highs; Financials Lead the Rally

MarketSmith India _ Weekly Big PictureMARKET PULSE

Status: Confirmed Uptrend

Highlights:

Two up days, three down days

 Weekly Market Review

 The benchmark indices continued their winning streak from last week. Both the Sensex and the Nifty started on a positive note on Monday after rallying more than 0.50% each. On Tuesday, the Nifty crossed the 10K mark intraday, but failed to hold the momentum and ended up in red. The Nifty observed its all-time highs on Wednesday after it closed above the 10K level. The expiry of F&O on Thursday observed some distribution in the Nifty, as a result of which the index traded flat, while the Sensex made an all-time high. Continue reading “Weekly Big Picture – Benchmark Indices Make Record Highs; Financials Lead the Rally”

Weekly Big Picture – Benchmark Indices Eke Out Gains; ITC Derails Nifty’s Journey to 10K

MarketSmith India _ Weekly Big Picture.MARKET PULSE

Status: Confirmed Uptrend

 Highlights:

Three up days, two down days

Weekly Market Review

The Indian market started on a positive note on Monday, as the market continued its momentum from last week. The benchmark indices scaled new all-time highs, and also registered fresh closing highs on Monday. On Tuesday, the key indices fell, as the market heavyweight ITC dropped more than 12%, after the GST council decided to increase the cess on cigarettes. After Tuesday, the market has witnessed a fight between the bulls and the bears, as the market seesawed between gains and losses on the remaining days of the week. Finally, by the close of the week, the key indices are within touching distance of their record highs registered on Monday. Continue reading “Weekly Big Picture – Benchmark Indices Eke Out Gains; ITC Derails Nifty’s Journey to 10K”

Weekly Big Picture – Benchmark Indices Scale All-time highs; Record Best Weekly Gain in Four Months

MarketSmith India _ Weekly Big Picture

MARKET PULSE

Status: Confirmed Uptrend

 Highlights:

Four up days, one down day

 Weekly Market Review

The benchmark indices extended gains from last week in a record setting spree, this week. Both, the Sensex and the Nifty marked all-time highs on Monday, after rallying over 1% each. The indices held on to the positive zone with small increments on Tuesday and Wednesday, thereby extending their highs. Heavy accumulation in Thursday’s session, helped amass a weekly gain of over 2%. However, the benchmark indices snapped from their winning streak to post marginal losses, likely due to profit booking, in today’s session. Despite one down day, the key indices recorded their best weekly gain in the last four months. Continue reading “Weekly Big Picture – Benchmark Indices Scale All-time highs; Record Best Weekly Gain in Four Months”

Weekly Big Picture – Key Indices Retreat from Higher Levels, as GST Jitters and Global Weakness Drag the Market

MarketSmith India _ Weekly Big Picture.

MARKET PULSE

Status: Confirmed Uptrend

Current Outlook:

Market environment conducive for new purchases, but remain selective.

Focus on fundamentally strong stocks breaking out of strong technical patterns.

Stay disciplined and exercise sound buy and sell rules.

Continue reading “Weekly Big Picture – Key Indices Retreat from Higher Levels, as GST Jitters and Global Weakness Drag the Market”