Week Ahead: NIFTY Has A Treacherous Road Ahead; These Sectors To Relatively Out-Perform As Per RRG

Aug 31 13:08 2019 Print This Article

The Indian equity markets struggled throughout the previous week to keep its head above the crucial levels and ended the week with modest gains. On anticipated lines, the week remained very volatile as the markets oscillated in a 385-points range. The week that went by digested the reforms initiated by the Government to aid the slowing economy and also the recurring threats of intensifying trade war between the US and China. Amid this mixed setup, the headline Index managed to end with net weekly gains of 193.90 points (+1.795). The month of August remained negative with NIFTY losing 94.75 points (-0.85%) after oscillating in a 544-point range.

The zone of 11100 to 11210 remains extremely treacherous for the markets. While the level of 11000 remains the neckline of the rounding top formation that the NIFTY violated, the 50-Week MA lies at 11115, and the 200-Day MA stands at 11209. This shows that the Index has a stiff overhead resistance to deal with going ahead, and it would be imperative for the NIFTY to keep its head above the 11000-mark.

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