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Will Nifty be able to reclaim 18K next week? Key factors to watch
Indian equity market witnessed profit booking after Nifty crossed the 17800 level and the Bank Nifty also saw the profit booking at 41500 levels on Friday trading session while the US market has shown strength after good apple Results & weak homes sales number. US 10-year bond yields are also cooling off from 4.33% to 4.016%. We are heading toward the last batch of Q2 earnings, which will lead to stock-specific movement. Apart from this, the institutional flows will play a vital role because foreign investors have turned from sellers to buyers while Domestic institutional investors are also giving their participating on the positive side. Technically, the overall structure is bullish, but momentum is slowing down as the Nifty has multiple resistance levels between 17800 and 18100. However, sector and stock-specific outperformance are likely to continue. Source - MINT
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