Weekly Trend Report
- 08th June, 2026
Week Gone By
Indian equity markets ended the week on a weaker note, with both the Sensex and Nifty closing in the red amid geopolitical tensions, global trade uncertainties, and the RBI’s revised inflation outlook. However, broader markets outperformed the benchmark indices, supported by gains in select stocks driven by strong quarterly earnings, significant order wins, and positive corporate developments. Market sentiment found support in robust domestic economic indicators, including stronger GDP growth, improved activity in manufacturing and services, healthy industrial production, and resilient GST collections. The RBI kept the policy rate unchanged but raised its inflation forecast while lowering its FY27 growth projections, reflecting heightened uncertainty stemming from global developments. Global cues remained mixed during the week. Stronger-than-expected manufacturing activity in China, in contrast to economic weakness and rising inflation in the Eurozone.
Week Ahead
Indian equities enter the upcoming trading week on a positive footing, supported by strong domestic fundamentals despite mixed global economic signals. On the domestic front, investors will closely monitor the May 2026 Inflation Rate, scheduled for release on Friday (12 June 2026). The Foreign Exchange Reserves data for the week ended 5 June will also be announced on the same day. Globally, key economic releases are expected to influence market sentiment. In China, the Balance of Trade data for May will be released on Tuesday (9 June 2026), followed by the Inflation Rate and Producer Price Index (PPI) figures on Wednesday (10 June 2026). In the US, Existing Home Sales data for May will be announced on Tuesday (9 June 2026). This will be followed by the release of the May Inflation Rate and Core Inflation Rate on Wednesday (10 June 2026), while the May Producer Price Index (PPI) data will be published on Thursday (11 June 2026).
Technical Overview
- Fortis Healthcare continues to maintain a strong primary uptrend and is showing signs of fresh accumulation after a healthy consolidation phase.
- The stock recently found support near the rising 50 DMA and has bounced back sharply, indicating that buyers are defending higher levels and the broader trend remains intact.
- Price is currently trading above both the short-term moving average cloud and the 200 DMA, while the 50 DMA has started turning higher again.
- The ₹990–₹1,000 zone remains the immediate resistance area, as the stock has faced supply around this level multiple times in recent months.
- A decisive breakout above ₹1,000 with volume expansion could trigger a fresh leg of the uptrend and open the path toward ₹1,080–₹1,100 levels.
- On the downside, immediate support is placed at ₹945–₹925, which coincides with the moving average support zone.
- Stronger positional support is seen near ₹900–₹910, where the 200 DMA is currently placed. As long as the stock sustains above these levels, the bullish structure remains unchanged.
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