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videos | IST

Market outlook for the coming week; here’s what experts say

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The Nifty and Sensex scaled new peaks everyday this week and ended Friday at a record high. For the week, the Nifty and Sensex ended 2 percent higher. Nifty Bank and Nifty Midcap Index underperformed the Benchmarks.

The Nifty and Sensex scaled new peaks everyday this week and ended Friday at a record high. For the week, the Nifty and Sensex ended 2 percent higher. Nifty Bank and Nifty Midcap Index underperformed the Benchmarks.
In this episode of Taking Stock, Rohit Shrivastava, Founder & Strategist of Indiacharts.com, gives his view on the technical for next week.
Aditya Narain, Head - Research, Instl Equities of Edelweiss Securities, in an interview with CNBC-TV18, said, “The kind of money and the kind of market performance that you have seen off late is quite unprecedented. Just the fact that market has moved so much so quickly and so consistently should fundamentally put in some caution in terms of how much money if any one puts in at this point in time.”
He said, “I wouldn’t put in too much at this point in time because if you have been there you have already done very well, so I don’t think you need to keep chasing it at this point in time.”
On Bank Nifty, Shrivastava, Founder & Strategist of Indiacharts.com, said, “I would put support at 13,600 and the upside to 14,200 as far as the Nifty is concerned and Bank Nifty is pretty lethargic, look for possible moves that can develop towards 33,000 on the upside.”
Watch this video for more.