The week in review saw Indian markets experiencing high volatility and choppy trading sessions. Despite gaining on four out of five days, the BSESENSEX closed with a gain of 0.26% and NIFTY gained 0.33% by the end of the week. The broader markets also saw gains with BSE100, BSE200, and BSE500 up by 0.57%, 0.73%, and 0.84% respectively.
Intraday swings were significant with the BSESENSEX gaining and losing points throughout the week. The Indian Rupee lost value against the US Dollar, and Dow Jones also saw gains, with the US FED keeping interest rates unchanged. However, the IT sector faced pressure due to profit warnings from IT giants.
One listing took place during the week, with Krystal Integrated Services Limited listing on the bourses. The week ahead is short with trading holidays, leading to a truncated trading week. The current value of NIFTY is marginally higher than the open of the March series, and markets are expected to remain volatile.
Support levels on NIFTY and BSESENSEX are crucial in case of further market weakness. The strategy for the short trading week would be to maintain light exposure and trade cautiously. Traders and investors are advised to hold on to profits and avoid risky moves over the next three days, as the financial year comes to a close.
In conclusion, with uncertainties and volatility in the market, it is essential to trade cautiously and avoid risky ventures. The focus should be on protecting profits and navigating through the remaining trading sessions with a conservative approach.
