Weekly Report: 2nd April 22

Weekly Trend Report

Week Gone By
  • In the week ended on Friday, 01 April 2022, the S&P BSE Sensex advanced 1914.49 points or 3.34% to settle at 59276.69. The Nifty 50 index gained 383.4 points or 2.22% to settle at 17,670.45.
  • The BSE Mid-Cap index rose 2.75% to settle at 24,443.59.
  • The BSE Small-Cap index rose 3.23% to settle at 28,699.41
Week Ahead
  • Trend in global stock markets, the movement of rupee against the dollar and crude oil prices will dictate trend on the bourses in the near term
  • Volatility is also likely to remain high amid the ongoing Russia-Ukraine crisis
  • The Reserve Bank of India (RBI) Governor-headed rate setting panel will be holding its first meeting of the next fiscal from April 6- 8. Inflation is picking up in India, but the country’s central bank is likely to maintain its loose policy even as its global peers raise rates as per reports
Technical Overview
Nifty opened the week with minor gap down, while as the week progressed index gatheredu the strenght and ended the week near the weekly highs gaining 3.02% at 17670. Going ahead index has important support at 17350, till index hold abv this Nifty likely to head higher towards 17800-18000-18350. While support past 17350 comes at 17000-16800.

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