MARKET LAST WEEK AND LTP CALCULATOR’S NEXT WEEKLY RANGE

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MARKET LAST WEEK AND LTP CALCULATOR’S NEXT WEEKLY RANGE

As a result of significant purchasing in information technology companies and ongoing foreign money inflows, domestic bourses began higher on Friday, helping the BSE Sensex close over the 66,000 mark for the first time. The NSE Nifty also reached a record-high closing price. The local market was helped by the surge in the stock markets throughout the world.

To conclude at an all-time high of 66,060.90, the 30-share BSE Sensex increased by 502.01 points, or 0.77 percent. The Sensex increased by 600.9 points during trade to set a new high of 66.159.79 points.

The Nifty of the National Stock Exchange reached a new high of 19,564.50 points, up 150.75 points, or 0.78 percent. The Nifty increased by 181.6 points during the trade to hit a high of 19,595.35 points. In the Sensex group, Tech Mahindra and Tata Consultancy Services both had gains of above 5%. Major gainers were Infosys, HCL Technologies, Wipro, Tata Steel, Nestle, Asian Paints, Larsen & Toubro, and Hindustan Unilever.

Losers on the other hand were Axis Bank, Power Grid, Titan, Maruti, UltraTech Cement, and Mahindra & Mahindra. While Japan’s Nikkei was in the red, other Asian markets such as South Korea’s KOSPI, China’s Shanghai Composite, and Hong Kong’s Hang Seng were profitable. Major European stock exchanges saw an increase in the early going. On Thursday, the US stock markets took the lead.

Meanwhile, on the back of softer food, gasoline, and manufactured goods prices, wholesale inflation plunged to -4.12% in June.

Investors are confident that a 0.25 percent hike in the policy rate will be sufficient to sustain the economy as a result of the US inflation slowing down.

Additionally, the third straight month of falling wholesale inflation contributed to the overall rise. According to stock market statistics, foreign institutional investors continued to be quite active on Thursday, purchasing shares worth Rs 2,237.93 crore. Brent crude, the benchmark for all other crude oils, fell 0.09 percent to $81.29 a barrel.

LTP CALCULATOR ANTICIPATION FOR THE NEXT WEEKLY RANGE OF NIFTY 

The LTP Calculator has forecasted the Nifty weekly range for the upcoming week. Since the LTP Calculator Option Chain suggests that the Nifty’s weekly range resistance is 19,600 and its weekly range support is 19,500, investors should be mindful of these factors.

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