Indian Markets touched all-time high during the week. The overall sentiment is cautious but the markets are still ruling strong and many stocks have touched 52-week high. Mid-cap stocks have been suffering over the last few months but blue-chips have offered good returns to investors.

Nifty ends the week with marginal gains as it remained between the range that was seen in the previous week. This is a second week that Nifty has managed to close above its previous all-time high placed around 11750. The profit booking was seen at higher levels as Nifty failed to sustain the 12K mark. Despite a Rate cut, the street was expecting more, we have seen market witnessing profit booking.

Indian Markets can outperform emerging markets as expectations run high from newly elected BJP government. While analysts are divided over near term outlook for Indian markets, investors would remain upbeat about Indian markets in next 3-6 months. Markets will also depend on global cues.

Views from Mr. Romesh Tiwari, Head of Research, CapitalAim have been shared below.

Markets are expected to trade in a wide range of 2-3% before the trends of results, in the afternoon, comes out. Consensus on the big upward rally on the victory of BJP lead NDA can be used for unwinding long positions on market heavyweights like Reliance, HDFC, SBI etc.

Markets cheered the win for ruling BJP in the elections. However, markets have been rising over the last few weeks. On May 23, as the results started confirming BJP win, Indian markets touched their all time high with BSE Sensex crossing 40,000 for the first time.

Comments from Mr. Abhijeet Bajpai, Co-founder & CEO, Avighna Trades...

Its a big win for BJP and the markets are relieved that the economic policies will not divert in any contradictory manner because of new government. NDA's win was largely factored in by the markets and the actual result in general is not a big surprise.

Indian markets will depend largely on election results for the short term. The elections have left the market participants in confusion about the outcome. Markets prefer to have stable government and the outcomes of elections will decide the short and medium term trend for the markets.

Nifty on the daily chart has formed a piercing pattern as bulls return despite clouds of volatility. A week that was turning out to muted saw a sharp recovery in indices and Nifty on last trading session to soar and close above 20 Days MA at 11407.

The Benchmark Nifty50 started the week on a negative note due to some profit booking from higher levels and remained range bound in the short trading week, as markets were closed on Monday and Wednesday. It traded between the range of 11800 to 11650 levels on daily charts.

Nifty is consolidating around higher levels but could not sustain above important levels of 11800. Traders are cautious of general elections as now the elections have entered its midway. However, the slowdown in economic growth could be a matter of concern for traders & investors. Once Nifty sustains above 11800 levels then we could see a further uptrend in it but if it does not sustain above this level then there could be fall in Nifty till the support of 11550 levels.

Nifty rebounded taking support from its previous swing lows along with short covering ahead of expiry. A rebound was seen as buying emerged at lower levels in various sectors such as Banks, Energy, IT, Financials and PSUs. There was also some buying which was seen in small cap and midcap.

As Nifty goes to expiry tomorrow, It was a decisive day for bulls with Index sustaining the supports placed at 11600. In the early morning session, we did see some consolidation but buying emerged as options data pointed to addition in 11600 PE. the range for the market which was large of 11600 - 11700 is now pointing to somewhat between 11650 - 11750.

After hitting all-time high of 11761 in the Benchmark Nifty50 last week, Index is now consolidating in a range. Nifty50 benchmark has formed higher high for the seven consecutive weeks but on RSI front it formed a negative divergence along with stochastic moved in an overbought territory which led profit booking in the past sessions.

The present consolidation phase will indicate a fresh uptrend resuming in the near future. The index shall resume its uptrend since no major change in stance before election, its structure of higher high and higher bottoms shall continue in near future.

Indian markets have gained momentum in the recent weeks as global cues offer strength to local indices. Nifty posts biggest gain of the year as it moves beyond 61.8% mark on a closing basis with a breakout that may last for few coming weeks. This is the biggest gain Nifty has posted on a weekly basis since this year has started or since November last year keeping short sellers and bears trapped at lower levels. Positive global cues, comfortable inflation data, and Increase in FII's investment kept bulls in charge for the last 4 weeks. Global cues were largely positive with better than expected Core retail sales and retail sales numbers from the US and improved GDP numbers m/m from GB along with higher manufacturing production taking out the clouds of Brexit.

Nifty forms a shooting star after four consecutive weeks of upward momentum indicating some indecision at higher levels. It had been one of the best rallies Nifty posted since last September but a Shooting star now makes it suspicious going forward as the strength of bulls seems to be fading while profit booking is seen in the area of 11500 - 11600.

A shooting star, a Long shadow on the upside with small body below the belt, is seen as a sign of indecision in bulls and bears and is an outcome of the same. The importance of the formation increases after a sustained upward move and that too when it's on the weekly chart makes it very critical.

Volatility shoots up as it inches up by 10% amid rising concerns on Geopolitical front though market sustains the lower levels with Nifty sustaining the 10800 levels. A gap down open amid the Surgical strike by IAF caused traders to be pounded by negative sentiments but Nifty managed to recover quickly from lower levels.

The markets may not respond negatively since we do not have that kind of trades with our neighboring country like Pakistan. We believe this will be a non-event for the market since when we look at history we see wars that have been extended to 3 months of time. So that was a different time and in fact at that point of time, Indian Nifty managed to fetch a 35% return.

Nifty forms a shooting star as false breakout traps the bulls on the upside and ended down with marginal gains. A shooting star is a reversal pattern which is characterized as a small body with an upper shadow twice the range of body that indicates the weakness at higher levels and a possible impending reversal.

With Cheers of Budget that brought relief to a large base of honest taxpayers followed by Rate cut decision of RBI; Nifty managed to breach much important 10970 - 11000 mark though it was the profit booking at higher levels and the confluence of resistance levels placed above 11100. A Doji star followed by a falling window on a daily scale has seriously put some dent on the charged bulls.

Nifty declines more than a percent as the range trade continues among the slew of economic and global events that can give fuel to volatility. A bloodbath in Media Stocks and Auto stocks while selling pressure in real estate space, Midcap, PSU saw a cut of more than 1% to 3%. Global markets were also muted after the last few weeks as profit booking was seen with leading indices such as DJIA, S&P500, and FTSE witnessing profit booking.

The week started off on a positive note with the assumption of a possible beginning of a trend but muted volatility and key resistances were seen holding their importance as we consolidated for a 6th consecutive week.

Oil prices have entered a bear market. OPEC members are meeting in early December to decide about oil production cuts and this would be important for the direction of crude oil. With lower oil and strengthening currency, Indian markets can expect strong support if there is a decline in major indices during next week. Indian market will also be looking for GDP data.

Nifty ends down making a bearish engulfing pattern on the weekly chart on Thursday indicating a bearish bias in short term. Nifty shredded its previous two weeks of gains and ended below 10550. Despite a fall in crude oil, appreciation in rupee, the jitters were seen in investors as Nifty struggled around 10700 marks.

Nifty managed to close the week with gains at 10680 up by 105 Points from previous week's close. Current Week saw a total gain of 230 Points from Lows of 10460. We had three positive sessions in last five days and markets have consolidated from lower levels.

Market has been inching up towards higher levels trying to touch the 50 Day and 200 Day Moving average coinciding at 10774 and 10767 levels. Upcoming week shall be very crucial as bulls must close Nifty above these widely tracked Moving averages. We will have to see if the current bounce back from lows of 10030 levels is a retest of Previous swing top at 10700 Levels or another opportunity for bears to gain control. Historically, in last 10 years, November closing has been negative 7 out of 10 times.

Indian Markets staged a smart recovery as global cues were positive. As NIFTY and BSE Sensex are in positive zone now, traders can expect markets to remain positive in the coming week. Even if there is a small decline, there could be buying at lower levels. On the positive side, Indian currency also recovered. Forex experts feel that the worst could be over for the Indian currency and we can expect further rally in coming months.

Nifty posted biggest weekly gains since 2016 as Nifty rebounds almost 4.8% to close above 10500 marks. Nifty took an important support of 100 SMA on the weekly chart and rebound was accompanied with a drop in Volatility Index, a measure of fear and buying across was board was visible as Blue-chips rebounded along with Small-cap and Midcap.

Indian stock markets recovered smartly during the last two trading sessions of October. The massive intraday movements of benchmark indices led to panic for traders and investors. Indian markets were mimicking the trend in the global markets but Indian market is additionally troubled by liquidity issues. SBI Chairman said that the issues caused by IL&FS to financial sector would return to normal situations within two weeks.

Indian companies have so far reported strong quarterly results. Markets have witnessed stock specific action with companies declaring strong results witnessing sharp pullback in stock valuations.

Indian Stock Markets witnessed sell-off at higher levels and markets closed nearly one percent lower on Friday. The sell-off led to lower stock valuations after the recent pullback in the markets. The markets will see stock specific action as quarterly results will be announced by companies in the coming weeks. Epic Research has shared the following viewpoints about market direction in coming week.

Bears Engulf on the streets as Bulls were being onslaught at higher levels of 10700 - 10680. The crash and Sell-off was amid multiple factors that were being discounted at one point of time from stock-specific quarterly earnings to FOMC Meeting. A lot was there for investors to be nervous about and that resulted in a sharp sell-off with a rise in volatility.

Indian stock market recovered smartly on Tuesday with BSE Sensex convincingly above 35,000. NSE Nifty closed slightly lower than 10,600 but market breadth remained positive. Many mid-cap companies have recovered during the last three trading sessions.

Indian markets were also supported by decline in USD compared to Indian currency. The recent decline in Crude Oil has also helped Indian currency. This year, Indian currency has been the worst performer among emerging market currencies.

Mid-cap stocks have recovered ground during the last few trading sessions. Many stocks were available at deep discount compared to levels witnessed few weeks back.

After massive decline in the U.S. stock markets on Wednesday due to trade-war worries and rising interest rates, markets across Asia opened with major decline. Indian markets opened nearly 3 percent lower and at one time BSE Sensex declined more than 1,000 points. Commenting on the strong movement in Indian stocks, Mr. Rahul Sharma, Sr. Technical Research Analyst, Equity99 said that Indian markets could see volatility in near term.

Indian Markets have been buoyant during the week, helped by strength in the global markets. Indian maA Fresh new all-time in benchmark indices with Nifty hitting 10283 while Sensex breached 37K mark to hit 37368.62. Backed by buying in broader indices, positive global cues, and strong rollover numbers indices managed to close near the day’s high. Heavyweights lead the rally again while sectorial indices with higher weight like Pvt. banks, Energy, FMCG, and Metals were shining 1% - 2.5%.