Nifty 500 Index Hits New All-Time High After Budget Volatility Next week Trend Analysis

Nifty 500 Index Hits New All-Time High Amid Budget Volatility

This week, the Nifty 500 index experienced a significant surge, rising by 438 points, or 1.9%, to reach a new all-time high of 23,292. The volatility on 23rd July, triggered by the Budget announcements, was short-lived as the index quickly recovered, now comfortably trading above the 10 and 20 SMA.

Telecom Services Industry Sees Strong Performance The Telecom Services Industry has shown remarkable strength, with notable follow-through in stock performance:

• MTNL: Gained an impressive 40% over the week.
• Indus Tower: Rose by 8.5% on a weekly basis.

Next Week’s Focus: Auto and Oil Companies As we look forward to the next week, the spotlight will shift to the Auto and Oil Companies sectors. Investors and traders are advised to keep a close watch on these industries for potential opportunities and market movements.

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