Weekly Market Review: Bulls Win As Markets Hit 16-Month High

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It was a new 16-month high for the markets, as markets moved away from the tight range of the last few weeks.

After trading in a range of 212 points right through the August expiry, it was time for the bulls and bears to start on an even footing.

Weekly Market Review: Bulls Win As Markets Hit 16-Month High
Expectations remained blunt on the second day of the September expiry. Early on Monday morning, the benchmark Index made a low of 8,578 points before closing at 8,660 points. Bulls were all set to target the previous high of 8,760 points.

Markets opened on a positive note on Wednesday and broke out above the 87,60 points thresh hold and reclaimed the 8,800 points mark at the end of the day.

Midway through the week markets kept the buying momentum intact even as it scaled fresh highs of 8,864 points.The benchmark Index traded in a narrow range of 50 points on the last day of the week, handing the mantle to the bulls before closing at 8,844 points. Smallcap Index made new all time high of 6,198 points and close at 6,180 points.

International markets bounced back from the ground even as the S&P recovered from the lows of 2164. The Dax too recovered after opening at the gap down on the 1st day of the week. Markets remained range bound on the second day. International markets remained range bound right through the remaining part of the week and waited eagerly for the crucial Non Farm Payroll data.

(The article is written by Mayank Jain and Vikash Kandoi)

Disclaimer: The contents of the article is sourced from the research report of Dynamic Levels with due permission. Dynamic Levels is a website owned by Dynamic Equities Pvt Limited, a member of BSE and NSE. You can visit Dynamic Levels by clicking: Dynamic Levels The article is not a solicitation to buy, sell in securities or other financial instruments. Greynium Information Technologies Pvt Ltd, its subsidiaries, associates and Dynamic Levels do not accept culpability for losses and/or damages arising based on information in this article.

Read more about: sensex, nifty
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