Nifty witnessed wild gyration during the week but finally closed the week with a marginal loss of 0.3% tracking mixed global and domestic cues.
It seems that steady upside momentum in Nifty have arrested and now the market is heading into short-term corrective phase.
Going forward, in this new week Nifty is likely to remain volatile as derivatives expiry is scheduled this week and heavy weights like RELIANCE, AXISBANK and MARUTI are also going to declare their results.
It is likely that the present decline in Nifty could continue during next week. The crucial support level to be watched next week is around 8950-9000 levels and key resistance to be watched is around 9200-9250
BSE Sectoral Indices Performance
|This Week||Previous Week||% Change|
|OIL & GAS||14,286.6||14,218.0||0.5|