Week Ahead

As Samvat year 2080 kicks off on November 12 with the festival of Diwali, leading financial experts weighed in on the trajectory for the Indian stock market, amid macroeconomic stability, political resilience, and global investment trends. The market's direction in the new Samvat year and beyond hinges on the intricate dance between macroeconomic and fundamental stability, and handling of high valuations.

The Nifty50 staged a nice range breakout in a one-hour Muhurat trading session on November 12 and closed at a three-week high, though it formed a bearish candlestick pattern on the daily charts as the closing was lower than opening levels.

To be sure, Indian share market kicked off the Samvat year with a bang, with benchmark NSE Nifty 50 rising 110 points to 19,530 during Diwali Muhurat trading. BSE Sensex gained 370 points to 65,275. Bank Nifty was buoyant too, gaining 180 points to 44,000.

Options data indicates that 19,500 is expected to be crucial for march towards 19,600-19,800 levels, with support at 19,400 & 19,300 levels.