The market gained 1 percent and extended the winning streak for the fourth consecutive week ended November 11. For the week, the BSE Sensex gained 844.68 points or 1.38 percent to end at 61,795.04, while the Nifty50 climbed 232.55 points or 1.28 percent to close at 18,349.7 levels.

Ajit Mishra, VP - Research, Religare Broking | In absence of any major event, participants will be eyeing crucial macroeconomic data viz. CPI and WPI inflation for cues. Besides, the performance of global indices and foreign flow trends will also remain on their radar. As we enter the last leg of the earnings season, companies like Biocon, Bharat Forge, Grasim, ONGC and IRCTC will announce their numbers along with several others. We’re gradually progressing towards the record high now, however, mixed signals from the global front are still keeping the momentum in check. Besides, we have not seen broad-based buying yet and participation from the index majors is also restricted. In such a scenario, sector selection and then cherry-picking the right stocks become critical. With the banking index at a record high, we expect the positive tone to continue and the IT index also looks upbeat to regain some strength after a year-long corrective phase. Meanwhile, other sectors may continue to see mixed participation so align the positions accordingly.

Manish Shah, Independent Technical Analyst | Expect the Nifty to generally remain bullish and seek a rally towards 18,600-18,650 over the next week. The fireworks could be in metals and IT sector. Any dip in Nifty towards 18,200-18,250 should be a buying opportunity for traders looking for a play on the long side. As long as Nifty holds above 17900 look to be on the long side of the market.

Apurva Sheth, Head of Market Perspectives, Samco Securities | According to the chart pattern, the Nifty may see bullishness if it maintains above the 18,300 level, which would take the index up to the 18,600 level. If the index falls below 18,000, profit-taking will begin at 17,800, followed by 17,650. Investors are urged to maintain their upbeat outlook, and with other sectors now contributing, we anticipate strong broad-based buying in the next week.

Rupak De, Senior Technical Analyst at LKP Securities | The trend looks positive as long as the 18300 level is held on a closing basis. On the higher end, it may move towards 18600 over the near term. On the lower end, support is pegged at 18,200/18,000.

Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services | Going forward, market is expected to maintain the momentum as peeking out of US inflation has raised the hopes of slowdown in the pace interest rate hike by the US Fed. The strong recovery in market on FRiday has increase probability of Nifty moving towards its all-time high of 18,600 zone.

Amol Athawale, Deputy Vice President - Technical Research, Kotak Securities | The Nifty not only cleared the short term resistance of 18300 but closed above the same which is broadly positive. A bullish candle on daily and weekly charts and range breakout formation is indicating further upside from the current levels. For traders, 18,200-18,150 would act as key support zones. If the index trades above the same then it could move till 18,500-18,600. However, below 18,150, the uptrend would be vulnerable.

Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One | For the coming week, 18,200–18,000 would now be seen as a sacrosanct support zone, whereas on the flipside, testing 18,450 and 18,600 is clearly on cards. In fact, if the momentum persists, we will see the Nifty clocking fresh record high in the coming week itself. Till now, most of the other heavyweights have been driving markets higher but with the IT space coming out of its long slumber phase, the rally is likely to be robust in nature. The broader end of the spectrum has been quiet all this while; but the way the Nifty Midcap50 index is placed, we will not be surprised to see it breaking its shackles quite soon. Hence, traders should brace themselves up for a good stock specific treat in the near future.

Expect Nifty to stay bullish, and may rally towards 18,600-18,650: Experts

For the coming week, 18200 – 18000 would now be seen as a sacrosanct support zone, whereas on the flipside, testing 18450 and 18600 is clearly on cards, says Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One.