Weekly Trend Report
- 12/11/2022
- November 12, 2022
Week Gone By
- In the week ended on Friday, 11 November 2022, the Sensex advanced 844.68 points or 1.39% to settle at 61,795.04. The Nifty 50 index gained 232.55 points or 1.28% to settle at 18,349.70
- The BSE Mid-Cap index slipped 0.71% to settle at 25,465.20
- The BSE Small-Cap index dropped 0.42% to settle at 28,985.06
Week Ahead
- India’s inflation rate for October will be announced on 14th November 2022.
- Japan will announce inflation rate for October on 18 November 2022
- In US, Retail Sales data for October will be announced on 16 November 2022
Technical Overview
Nifty 50 remained highly volatile throughout the week, however, it ended the trading week with modest gains of 233 points. Nifty remained jittery ahead of the US inflation data and jolted on improved inflation numbers towards the all-time level tracking global cues on relatively stronger volume on Friday. Going forward in the rally attempt trend, a follow-through week towards the all-time high level at 18604 will be crucial to attracting further bullish momentum. The support for the week comes near 18180 – 17920 – 17780 whereas resistance is near 18350 – 18450 – 18600.
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