SBI’s result has been excellent, due to which there was a tremendous rise in its stock on Friday. Keep an eye on its stock even today.
There was a tremendous boom in the market last week.
The last week has been a great one for the stock market. On a weekly basis, the Sensex recorded a gain of 2.71 percent and it closed at the level of 50540. This was the second consecutive week when the market closed sharply. In the previous week, it had recorded an increase of 0.87 percent. The Nifty 50 gained 3.39 percent in the previous week and closed at the level of 15175.
On the last trading session, SBI had a great result and the Sensex rose by 975 points. The last trading session at Nifty Bank saw a jump of 1272 points and closed at the level of 34606. On a weekly basis, the Nifty Bank recorded a growth of around 7.58 percent. In the week before that, it had fallen by 2.23 percent. The 52-week high of Nifty Bank is 37,708. Right now, he is far behind that.
Josh is still left in Nifty Bank
HDFC Securities’ research analyst Nagraj Shetty told Money Control that according to the technical chart, the Nifty can reach the level of 15800. There is a strong support at the 15100 level at this time. In such a situation, if the market does not go below this level this week, then there is a possibility of a rise in it in the coming days. Below that, there is a strong barrier at the level of 14920. Nifty Bank will move towards 33880 this week. If it crosses it then the 33150 will be its new target.
Keep an eye on SBI, JSW Steel, Shree Cement
On May 26, a dividend can be announced by BPCL. Investors are watching this. SBI has released the result on Friday and that day was quite fast. Even today it can be maintained on its shares. Apart from this, the results of JSW Steel have increased significantly. Apart from this, you can also keep an eye on the shares of Shree Cement.
Derivatives expiry on 27 May
BHEL, Jindal Steel, Nalco, Punjab National Bank and SAIL have been barred from trading futures and options on May 24. Apart from this, the results of companies like Grasim Industries, India Cements are coming today. This week, results of a total of 390 companies will come. Apart from this, there is also a monthly derivatives expiry on 27 May.
Also read, you can get up to 50 lakh free insurance by investing in SIP, know how you can benefit
Also read, know on whose request the interest rate on small saving schemes was reduced and it was withdrawn within 12 hours.