A gap-up opening may expect after a free fall...

WEEKLY EQUITY BULLETIN FROM 29 NOV TO 03 DEC 2021

The market extended the previous week's losses and lost 4 percent in the week ended on November 26 amid weak global cues due to concerns over rising inflation. However, worries over rising Coronavirus cases in Europe resulting in a full lockdown scenario and a new covid variant in South Africa added the woes in the investor’s sentiment. Indian market started the week on a negative note and witnessed range-bound movement in the next three sessions amid monthly expiry but ended the last session of the week, with heavy selling seen across the sectors, except pharma.

In the last week, BSE Sensex slipped 2,528.86 points (4.24 percent) to close at 57,107.15, while the Nifty50 fell 738.3 points (4.15 percent) to close at 17,026.5 levels. However, in the November series, the Nifty shed 1.79 percent, while the Sensex fell 2 percent.

In the last week, FIIs sold equities worth Rs 21,124.95 crore, while DIIs bought equities worth Rs 10,934.76 crore. However, in the month of November 2021 till now FIIs sold equities worth Rs 31,124.46 crore and DIIs bought equities worth Rs 20,598.63.

Nifty Future

On the weekly basis, Nifty has Resistance around 17600, if it breaks and closes above 17600 will see an upside rally till 18400 and further to 18600 levels in days to come.

Major support around 16800, if it breaks & closes below 16800 will see sharp downside panic till 15900 and then to 15600 levels in days to come.

Intraday Levels

Nifty Future has resistance around 17200, breaks above 17200 will see intraday upside movement till 17300---17400 levels while Support around 17000, breaks below 17000 will see intraday sell-off till 16900---16800 levels on the Monday trading session.

Bank Nifty Future

On the weekly basis, Bank Nifty has Resistance around 37500, if it breaks and trades above 37500 will see an upside rally till 38800 and further to 39500 levels in upcoming trading sessions.

Major Support around 34800, if it breaks and close below 34800 will see downside fall till 33000 and further to 32800 levels in upcoming trading sessions.

Intraday Levels

Bank Nifty Future has resistance around 36500, breaks above 36500 will see an intraday upside movement till 37000---37300 levels while Support around 36000, breaks below 36000 will see intraday sell-off till 35400---35250 levels on the Monday trading session.

Weekly Top Pick Stock

Buy SYNGENE FUTURE above 605 with a stop loss below 575 levels for an upside movement till 630----650 levels in days to come.

Buy MAX HEALTH above 380 with a stop loss below 350 levels for an upside movement till 410----425 levels in days to come. *T&C Apply...