• On a week on week basis, the Index declined by 0.5%. IT, Reality and FMCG has outperformed whereas Banking, Auto and media stocks witnessed selling pressure.
• In a week, the Index has formed a bull trap but recovered from a lower band of consolidation. • The underlying tone remains positive for the market. Due to declining movement in banking stock, it has entered in support band.
• In the coming week, Banking stocks can support the overall market.
• Nifty will remain in a bullish zone as far as it sustains above 15500 level and on the higher side immediate resistance at 16000/16200 level.
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