Weekly Trend Report
- August 19 , 2023
Week Gone By
- In the week ended on Friday, 18 August 2023, the S&P BSE Sensex slipped 373.99 points or 0.57% to settle at 64,948.66.
- The Nifty 50 Index declined 118.15 points or 0.61% to close at 19,310.15.
- The BSE Mid-Cap index declined 0.54% to close at 30,265.32
The BSE Small-Cap index declined marginally at 35,283.32
Week Ahead
- Shares of Jio Financial Services will be listed on the stock exchanges on 21 Aug 2023
- Overseas, China will announce Loan Prime Rate for 1 year and 5 years on 21 Aug 2023.
- US Durable Goods Orders will be announced on 24 Aug 2023
Technical Overview
Nifty saw a muted opening for the week and remained sideways within 229 points trading range, however with a 5.4% rise in
VIX. The trading week also saw compressing of volatility and closed on an indecision note on Friday. With the conjecture of
multi-support following the previous gap area, key moving averages on the daily and higher timeframe, and the build-up of put
open interest at 19300, the zone of 19300-19240 is anticipated act as a crucial support zone and sustenance above the same
on a weekly closing basis will attract bullish strength.
Supp:19300-19170-19000
Res: 19465-19580-19645
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