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💫 Market Metrics: Weekly Roundup ⭐ Sensex: 73,088.33 ⬇️ ⭐ Nifty 50: 22,147.15 ⬇️ ⭐ Nifty Bank: 48693.95 ⬇️ ⭐ Nifty Smallcap 100: 16,270.40 ⬇️ ⭐ Nifty Midcap 100: 48,696.95 ⬇️ ……………………………………………………… ✨ Market Performance Key Takeaways For The Week 🌟 The Indian equity market began the week under pressure, heavily influenced by global uncertainties. The Nifty index started off with a gap down and continued to struggle, ultimately falling below key support levels. By the week's end, however, the Nifty managed a modest recovery, closing around the 22,150 mark and recording a 1.65% weekly decline. 🌟 Technically, the market witnessed a challenging week, particularly for bullish investors, as sentiment shifted negatively. Despite the turmoil, the indices didn't see a drastic drop, stabilising above previous low points. With ongoing global uncertainties, the market remains in a precarious position. Key technical levels to watch include support at 22,000 and resistance near the 22,430-22,500 range. 🌟 Amidst geopolitical tensions, particularly in the Middle East, the Bank Nifty also experienced significant volatility, dropping nearly 1,000 points over the week. Despite this, a strong recovery was noted on the last trading day, indicating some resilience. The index's trajectory remains uncertain, caught between lower highs and nearby strong support zones, suggesting potential sideways movement in the near term. 🌟 Investors are advised to proceed with caution in the coming week, which is expected to be volatile due to contract expirations. A cautious approach, especially avoiding aggressive overnight positions and staying informed about geopolitical developments, is recommended. With selective stock picks and a strategic approach, traders can navigate the uncertain market environment effectively. ……………………………………………………… ✨ News Highlights For The Week 🌟 India's Economic Affairs Secretary recently communicated to the World Bank that despite global challenges, India's economy has demonstrated strong growth. He noted that the GDP growth for fiscal year 2023-24 was revised up from 7.3% to 7.6%, reflecting the economy's resilience. India maintained over 8% growth for three consecutive quarters of FY24, outperforming amid slow global growth. Various agencies have also adjusted their growth estimates for India to around 8%. 🌟 Hindustan Zinc Limited has risen to become the world's third-largest silver producer, according to the World Silver Survey 2024 by The Silver Institute in the US. The company reported that its Sindesar Khurd Mine is now the second largest silver-producing mine globally, improving from fourth place last year. Its Chairperson highlighted the company's record silver production of 746 MT as crucial for India's self-reliance in energy transition, noting a 5% annual increase in production due to higher ore output and improved grades. 🌟 Tesla CEO’s upcoming visit to India on April 22, as reported by CNBC-TV18, is set to explore opportunities and may lead to increased sourcing of components from India for Tesla's plants in Germany and Fremont. During his first visit to the country, the CEO is scheduled to meet our Prime Minister and engage with India's space technology startups, focusing on potential investments in electric vehicles, space exploration, and satellite services. ———————x——————— Disclaimer: https://bit.ly/3usSGoH Sources: Angel One Research | Investment Guru | Investment Guru | Money Control Date: April 19th, 2024

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