After the worst week in 2024, the market saw consolidation last week. Nifty was seen operating in the range of 500 points. Bulls struggled to build momentum, but managed to arrest the decline. The biggest domestic trigger for the market now is the second quarter results. Results of many Nifty50 companies are going to be released this week. Reliance Industries results will be released on Monday (October 14). Underperformance has been seen in this stock for the last one month. Globally, Friday's session was better for the US market.

On cues from global markets,
US markets closed higher on Friday. The S&P 500 index and Dow Jones made new peaks after JPMorgan's better-than-expected results. US markets closed in the green for the fifth consecutive week on a weekly basis. Dow Jones closed with a gain of 1.2%, Nasdaq 1.1% and S&P 500 index also closed with a gain of 1.1%. The strong start of the third quarter results has boosted the sentiment here. JPMorgan closed up 4% and Wells Fargo up 5.6% after income and profit were better than expected. FIIs - DIIs figures Foreign institutional investors were sellers in the cash market on Friday. Domestic institutional investors have also made purchases in the cash market on this day. FIIs have bought shares worth a net ₹4163 crore in the cash market on Friday. Whereas, DIIs have bought shares worth a net ₹3731 crore in the cash market on this day. Outlook on Nifty Prabhudas Lilladher's Vaishali Parekh said that Nifty is very close to 50-DEMA and 25,000. He said that in the short term, there is support for the index at the level of 24,700. Whereas, on the upside, the next bullish signal will be received after the index crosses 25,000. Osho Krishnan of Angel One said that the first resistance for Nifty is in the zone of 25,250 - 25,300. After a strong breakout above this level, the next phase of bullishness will be seen in the index. On the downside, the index has support in the zone of 24,800 - 24,700. After slipping below this, the index may see a correction. Amol Athawale of Kotak Securities said that Nifty needs to stay above 25,050 to go up to 25,250 - 25,400. But, weak sentiment may continue in the index. This sentiment will remain weak as long as it remains below 25,050. If the index slips below 24,700, it can also slip to the level of 24,550. Outlook on Nifty Bank After a good session on Thursday, buying in Nifty Bank could not continue on the last day of the week. This is the reason why the index declined on a weekly basis. Nifty Bank is currently operating in the range of 51,780 - 50,000. Rishikesh Yedve of Asit C Mehta Investment Intermediates says that Nifty has definitely formed red candles on the daily chart, but on the monthly chart, the index has a hammer candle. If Nifty Bank manages to stay above 51,785, then the index can go up to the level of 51,250 - 52,800. Till then, there will be consolidation in the index. Praveen Dwarkanath of Hedged.in said that weakness may continue in Nifty Bank going forward. The important support for Nifty Bank is at the level of 50,200. Which stocks to watch Avenue Supermarts: In the second quarter, the company's income grew by 14.4% year-on-year to ₹ 14,444.5 crores. While, during this period the company's profit increased by 5.8% to ₹ 659.6 crores. EBITDA grew by 8.8% to ₹ 1,094 crores. Margin came under pressure and it declined from 8% to 7.6%. Hindustan Aeronautics: The Finance Ministry has included the company in the list of Maharatna government companies. It is the 14th Maharatna company of the country.