After a weak start for a truncated week, the Indian indices recovered from the lows and ended with a percent gain.
The Sensex rose 0.93 percent this week, or 334.65 points, to ending at 36,076.72, while Nifty was up 0.98 percent, or 105.9 points, to close at 10,859.9.
Ending the week with a Hammer candle implies strength. Hence, current bullish momentum may help the benchmark index challenging higher resistances placed around 10,940 and 10,980 levels, according to Stewart & Mackertich Wealth Management report.
On a weekly basis, the rupee appreciated 1.70 percent (Rs 1.21) against the dollar as it ended at 69.94 on December 29 against December 21, closing of 71.15 against the dollar.
The S&P BSE Largecap and Midcap index gained 0.94 percent and 0.70 percent, while S&P BSE Smallcap Index was ended down 0.19 percent.
The Nifty PSU Bank index has outperformed other sectoral indices with a gain of 3.65 percent during the week.
On the BSE, Reliance Industries (RIL) gained the most in terms of market value, followed by ITC, Adani Ports and HDFC.
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Source: Moneycontrol
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