Analysts expect the consolidation phase in the stock market to continue in the near-term. The market is expected to remain in a consolidative phase in the coming sessions, with key support at the 21,600-21,500 zone. However, analysts also anticipate a decisive break above 22,150 in the Nifty 50 and 47,000 in the BSE Sensex. This is important because it could indicate a shift in market sentiment and potentially lead to further gains.

Market Consolidation Continues

The stock market is expected to remain in a consolidative phase in the near-term, according to market analysts. This means that the market will likely continue to trade within a range without making significant upward or downward moves. The Nifty 50, which represents the top 50 stocks on the National Stock Exchange (NSE), and the BSE Sensex, which is the benchmark index for the Bombay Stock Exchange (BSE), have both been consolidating in recent trading sessions.

In order for the market to break out of this consolidation phase, analysts believe there needs to be a decisive break above certain key levels. Specifically, the Nifty 50 needs to break above the 22,150 level, while the BSE Sensex needs to surpass 47,000. If these levels are breached, it could indicate a shift in market sentiment and open the door for further gains.

Macro Factors to Watch

This week, there are several key market triggers to watch, including inflation data, third-quarter earnings results, and global cues. Inflation data can have a significant impact on market sentiment and the direction of interest rates. Third-quarter earnings results will provide insight into the financial performance of companies, which can influence investor sentiment. Finally, global cues, such as geopolitical events or economic indicators from major economies, can also impact the stock market.

Additionally, foreign investors’ activity in the market and macro trends will be closely monitored. Foreign investors play a significant role in the Indian stock market and their buying or selling activity can have a major impact on prices. Macro trends, such as economic growth and government policies, can also influence the overall direction of the market.

What to Expect for Monday

As the market opens on Monday, here are 15 things to know:

1. The stock market is expected to remain in a consolidative phase.
2. Key support levels are at the 21,600-21,500 zone.
3. A decisive break above 22,150 in the Nifty 50 could indicate a shift in market sentiment.
4. A decisive break above 47,000 in the BSE Sensex could also signal a change in market direction.
5. This week, key market triggers include inflation data, third-quarter earnings, and global cues.
6. Foreign investors’ activity and macro trends will also be closely watched.
7. Inflation data can impact market sentiment and interest rates.
8. Third-quarter earnings will provide insight into companies’ financial performance.
9. Global cues, such as geopolitical events and economic indicators, can impact the market.
10. Foreign investors play a significant role in the Indian stock market.
11. Their buying or selling activity can influence prices.
12. Macro trends, such as economic growth and government policies, can impact the market.
13. The Nifty 50 and BSE Sensex have been consolidating in recent trading sessions.
14. The market needs a decisive breakout to shift from the consolidation phase.
15. If key resistance levels are breached, it could lead to further gains in the market.

Citation: “Analysts expect consolidation phase in markets to continue in the near-term, but expect that decisive break above 22150 in Nifty and 47000.” (source)