Weekly Trend Report
- July 03, 2023
Week Gone By
- In the week ended on Friday, 30 June 2023, the S&P BSE Sensex increased 803.14 points or 1.26%to settle at 64,718.56. TheNiftyindex increased 216.95 points or 1.14% to close at 19,189.05.
- The BSE Mid-Cap index increased 0.67% to settle at 28,776.20.
- The BSE Small-Cap index increased 0.51% to close at 32,602.14.
Week Ahead
- Auto Stock will be focus as companies are start announcing Auto sales number for the month of June starting from 1st July 2023.
- Overseas, China will announce the Caixin Manufacturing PMI on 3rd July 2023.
- The US ISM Manufacturing PMI Data for June will be announced on 3rd July 2023.
- The United States Non Farm Payrolls data and unemployment rate for June will be announced on 7th July 2023.
Technical Overview
After testing the prior top of 18887 multiple times in the previous week, the benchmark index finally moved past it following constructive base and closed near the high point of the week. The move came on relatively lower volume and volatility, but on improving market breadth. With this the index has dragged its support higher to 19000 going by the price action and the derivative data and in the event of any consolidation, the level is likely to bolster immediate support.
Supp: 19070-18970-18887
Res: 19200-19300-19400
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