Market Showdown: Bulls vs. Bears – Last Week’s Thrilling Rollercoaster
Last week, the financial world witnessed an epic clash between two heavyweight contenders: the bulls and the bears. It was a nail-biting showdown that had traders and investors holding their breath, as these two forces fought tooth and nail for control.
Bulls Refuse to Budge
Imagine a line in the sand at 19,400—the bulls’ fortress. The bears, determined to storm the castle and send the market tumbling, launched an all-out assault. But the bulls were having none of it. Armed with unwavering resolve and a dash of optimism, they formed a united front, successfully standing their ground and protecting that crucial support level.
Friday’s Twist: The Bearish Sneak Attack
Just when it seemed like the bulls had the upper hand, Friday threw a curveball. The bears saw an opening and pounced, briefly breaking through the defenses. It was a surprise twist that left everyone wondering what was next.
Nifty and Sensex
The Nifty50, a group of top Indian companies, stumbled by a notable 118 points, settling at 19,310. Simultaneously, the BSE Sensex, a benchmark index representing the Bombay Stock Exchange, took a more significant hit, dropping 374 points to land at 64,949. The downturn was led by declines in various sectors, including metals, banking, financial services, technology, oil and gas, and pharmaceutical stocks.
FII’s & DII’S
FIIs (Foreign Investors): In the past week, foreign investors (FIIs) have sold more shares than they bought, resulting in a net selling of shares worth Rs 3,379 crore. This selling trend has continued for the month, with a total outflow of nearly Rs 11,000 crore from the Indian stock market. This suggests that foreign investors are taking money out of the market.
DIIs (Indian Investors): During the same week, domestic investors (DIIs) have been buying more shares than they sold, with a net purchase of shares worth Rs 3,892 crore. Over the whole month, their net buying activity reached around Rs 9,250 crore. This shows that Indian investors are actively investing in the market, trying to balance the impact of foreign outflows.
Source : nse https://www.nseindia.com/
Support & Resistance
Major support exist around 19200 -19300 and major resistance around 19400 -19500.
Conclusions
As we discussed last week in Weekend Mirror : Market Review . The last week’s technical analysis has paid off. With some degree of precision, we were able to predict market moves.
In short, the market’s still dancing to the bears’ tune. To change that, we need a dose of positivity from abroad. Hold onto your seats, because the market’s bouncing around a lot. Listen to the experts – safeguard your investments and be as cool as a cucumber. Keep calm, and you’ll come out on top.
As we ride this rollercoaster, remember: the market’s a mix of math and mayhem, strategy and surprise. Whether you’re a day trader, an investor, or just a curious observer, the market’s story keeps us all guessing. So buckle up, because the battle between the bulls and bears is a saga that’s far from over. I sincerely hope you’ll like our new writing style.
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