How will the stock market move next week, here are the complete details.

The Indian stock market closed with gains on Friday. The main reason for the rise in BSE Sensex and NIFTY 50 was the strength in banking stocks. Especially good buying was seen in the shares of ICICI Bank, HDFC Bank and Axis Bank.

During trading, the market remained in the green mark throughout the day, but due to high prices of crude oil and concerns of rising inflation, the rise remained limited. Investors fear that central banks may adopt strict monetary policies if inflation increases.

Sensex closed at 75,415.35 with a gain of 232 points or 0.31 percent. At the same time, Nifty 50 also rose by 65 points or 0.27 percent to reach the level of 23,719.30.

How can the market be next week?

According to Ponmudi R, CEO of Enrich Money, the market may remain volatile in the next week. Investors will keep an eye on US-Iran tension, global diplomatic talks and crude oil prices.

He said that if the tension between America and Iran reduces or the prices of crude oil fall, then a positive environment can be created in the market. Due to this, strong buying can be seen in the stock market. But if geopolitical tensions increase or concerns about energy supply increase, the market may come under pressure again.

What strategy should investors adopt?

Ajit Mishra, Head of Research, Religare Broking, says that investors should be cautious while investing at the moment. He advised to avoid taking too much risk and trade thoughtfully.

According to Mishra, good opportunities are still visible in energy, pharma and metal sectors. Apart from this, stocks related to defense and capital market may also remain strong. However, he has advised caution regarding the IT sector. He says that after the recent rise, profit booking can be seen in IT shares.

Which levels will be in focus next week?

According to experts, the level of 75,800 to 76,000 is being considered as a big hurdle for the Sensex. Strong support is being seen between 74,600 and 74,400. The level of 23,800 to 24,000 will be important for Nifty 50. If this level is broken, there may be a new rise in the market. On the downside, the level of 23,150 to 23,250 is being seen as support. NIFTY Bank may see a rise if it gets stronger above 54,400, while there is a possibility of increase in pressure if it goes below 52,700.