StockReport Archive

Weekly Report: JULY 15, 2023

Weekly Trend Report

Week Gone By

In the week ended on Friday, 14 July 2023, the S&P BSE Sensex jumped 780.45 points or 1.2% to settle at 66,060.90. The Nifty 50 index advanced 232.70 points or 1.20% to close at 19,564.50.
The BSE Mid-Cap index climbed 1.36% to settle at 29,393.00.
The BSE Small-Cap index rallied 1.73% to close at 33,701.90.

Week Ahead

Quarterly result updates (Q1FY24) with HDFC Bank, LTIMindtree will unveil their results on 17 July 2023. • Overseas, China will announce GDP growth rate for Q2 on 17 July 2023.
Japan will announce inflation rate for June on 21 July 2023.

Technical Overview

The benchmark index saw a muted opening and displayed tightness in volatility amidst the brief consolidation of 220 points. The price ac tion edged higher toward the supply zone from 19500-19525 during the week and managed to break out on Friday ushered by short cover ing in the IT sector. With this, the index marked its 16th consecutive higher high. While the breakout came on a relatively lower volume, the daily RSI has also diverged negatively to the price. On the derivative front, the strikes of 19000 and 19500 have seen the building of higher put open interest and call open interest at the strikes of 19600 and 20000. All in all, it will be crucial that the index witnesses a follow through and a decisive close above 19600 whilst managing to sustain above the crucial support of 19500 to attract further bullish momen tum.

Supp:19500-19300-1900 Res:19600-19800-20000

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Weekly Report: JULY 08, 2023

Weekly Trend Report

Week Gone By

In the week ended on Friday, 07 July 2023, the S&P BSE Sensex jumped 561.89 points or 0.87% to settle at 65,280.45. TheNifty50index advanced 142.75 points or 0.74% to close at 19,331.80.
The BSE Mid-Cap index climbed 0.77% to settle at 28,999.02.
The BSE Small-Cap index rallied 1.62% to close at 33,129.49.

Week Ahead

Quarterly result updates (Q1FY24) will begin with TCS and HCL Tech on 12 July 2023 while Wipro will release its result on13 July 2023.
India’s inflation based on WPI for June will be announced on 14 July 2023.
Overseas, China will announce its inflation rate for June on 10 July 2023

Technical Overview

The 50 index opened on a tepid note for the week and witnessed volatility compression in the following two trading sessions. It sawa range break on Thursday, however, the index succumbed to selling pressure on the last day of the week after recording newlife-high at 19523 and paring 220 points. The zone of 19380-19500 is anticipated to act as immediate resistance goingforwardandweekly close above the zone will attract further bullish momentum. The VIX surged 6.8% during the week and some volatility anticipated to persist in the coming week.

Supp:19320-19190-19000

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Weekly Report: June 24, 2023

Weekly Trend Report

Week Gone By

In In the week ended on Friday, 23 June 2023, the S&P BSE Sensex declined 405.21 points or 0.64%to settle at 62,979.37. TheNifty index shed 160.50 points or 0.85% to close at 18,665.50.
The BSE Mid-Cap index slipped 1.25% to settle at 27,977.34.
The BSE Small-Cap index fell 0.93% to close at 31,991.18.

Week Ahead

The domestic stock market will remain shut on 28 June 2023 on account of Bakri-Id.
Overseas, China will announce the NBS Manufacturing PMI for June on 30 June 2023
Japan will announce Consumer Confidence data for June on 29 June 2023.
The United States Durable Goods Orders for May will be declared on 27 June 2023

Technical Overview

The stupendous rise of 1526 points from the March closing was arrested at the pivotal resistance of the life-highs at 18887. Theindex pared nearly 221 points after retesting the resistance twice during the week. On the positive side, the weekly timeframe continued its 12 consecutive streak of higher highs and lows and the drawdowns that came in the week gone by were on relatively lower volumes. It holds stiff support near the support zone of 18600 coupled with pivotal support and a shorter-term moving average. The index is anticipated to attract further bullish momentum provided the support zone remains intact on a weekly closing basis.

Supp: 18600-18530-18450
Res: 18780-18887-19000

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Weekly Report: JUNE 19, 2023

Weekly Trend Report

Week Gone By

In the week ended on Friday, 16 June 2023, the S&P BSE Sensex jumped 758.95 points or 1.21% to settle at 63,384.58. TheNifty50 index advanced 262.6 points or 1.41% to close at 18,826.
The BSE Mid-Cap index climbed 2.95% to settle at 28,331.32.
The BSE Small-Cap index rallied 2.87% to close at 32,292.19.

Week Ahead

Overseas, China will announce the Loan Prime Rate for 1 year and 5 years on 20 June 2023.
Japan will announce inflation rate for May on 23 June 2023.
Global financial markets could see more heightened volatility over the coming week due to Federal Reserve Chair Jerome Powell’s semi-annual testimony to Congress.

Technical Overview

Nifty dithered in a ~220 points trading range in the previous 2 weeks after facing rejection from the supply zone 18780-18750. Theindex garnered bullish strength amidst the base formation that bolstered a decisive close above the supply zone. Themovethatrallied from Monday in the previous week came on increasing volume and improving market breadth which is a positivesign.Currently we remain in an attempt rally whilst trading 0.62% away from life highs. The status reiterates to confirmuptrendonadecisive close above 18890 and preferably with a follow-through week.

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Weekly Report: JUNE 12, 2023

Weekly Trend Report

Week Gone By

In the week ended on Friday, 09 June 2023, the S&P BSE Sensex jumped 78.52 points or 0.13% to settle at 62,625.6. The Nifty 50
Index added 29.30 points or 0.16% to close at 18,563.40.
The BSE Mid-Cap index rallied 0.82% to settle at 27,518.19.
The BSE Small-Cap index rose 1.64% to close at 31,391.99.

Week Ahead

Overseas, China will also announce industrial production data for May on 15 June 2023.
The US Federal Reserve (Fed) will announce its interest rate decision after its two-day policy meeting on 14 June 2023.
The European Central Bank (ECB) will announce its interest rate decision on 15 June 2023.

Technical Overview

Nifty faces an immediate hurdle in the zone of 18,810-18,750 ahead of the all-time pivotal resistance at 18,777. The resistance
zone formerly marked exhaustion ahead of the prior declining trend from the ATH of 18,777 to 16,828. The current move has been
arrested near the resistance zone and formed a bearish harami candle pattern coupled with the RSI on the daily timeframe
diverging against the price and the Midcap and Smallcaps cooling off after peaking in the overbought zone. This indicates an
intermediate top formation. The primary trend remains healthy, however, considering the stupendous rise from the March lows, the
index is anticipated to take a breather and garner further bullish strength with crucial support near 18,450 before it resumes its up
move towards 19,000 and 19,200.

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Weekly Report: JUNE 03, 2023

Weekly Trend Report

Week Gone By

In the week ended on Friday, 02 June 2023, the S&P BSE Sensex rose 45.42 points or 0.07% to settle at 62,547.11 The Nifty 50
index gained 34.75 points or 0.19% to close at 18,534.10.
The BSE Mid-Cap index rose 1.83% to settle at 27,294.10.
The BSE Small-Cap index gained 2.40% to close at 30,885.70.

Week Ahead

The RBI’s Monetary Policy Committee (MPC) review meeting is slated for June 6-8.
The S&P Global Services PMI for May will be announced on 5 June 2023.
Japan will announce the inflation rate data for May on 9 June 2023.

Technical Overview

Nifty opened the week on a buoyant note by gapping up 120 points, however, it remained choppy amidst the uncertainty around
the US Debt ceiling. The benchmark index briefly traded in a 197 points trading range with the pivotal point near 18600 on the
weekly timeframe acting as immediate resistance whereas the pivotal point of 18458 on the daily timeframe as stiff immediate
support. The price action closed the week without showing any directional bias, however, it ended the week forming an inside bar
that shows volatility compression. The index is anticipated to resume its up move to all-time highs provided the support zone of
18460-18300 remains intact.
Supp:18458-18300-18200
Res:18660-18780-18887

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Weekly Report: 9th April 22

Weekly Trend Report

Week Gone By

In the week ended on Friday, 8 April 2022, the Sensex rose 170.49 points or 0.29% to settle at 59,447.18. The Nifty 50 index gained 113.90 points or 0.64% to settle at 17,784.35.
The BSE Mid-Cap index added 859.80 or 3.52% to settle at 25,030.79.
The BSE Small-Cap index rose 1,066.38 points or 3.72% to settle at 29,765.79

Week Ahead

IT majors TCS will declare its Q4 result on 11 April 2022.
On the economic front, India’s manufacturing production data for February will be unveiled on 12 April 2022.
India’s industrial production data for February will also be announced on 12 April 2022. On the same day, India’s inflation rate for March will be declared.

Technical Overview

Index opened the week on a postive note, however index faced profit booking from the falling resistance trendline ending the session near the opening price. Going ahead index has an immediate resistance placed around 17850, sustenance above the same will open the way for 18100-18400. Whereas on the downside support is placed near 17500-17330-17000.

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Weekly Report: 8th Jan 22

Weekly Trend Report

Week Gone By

In the week ended on Friday, 31 December 2021, the Sensex rose 1490.83 points or 2.56% to settle at 59,477.65. The Nifty 50 index gained 458.6 points or 2.64% to settle at 17,812.70.
The BSE Mid-Cap index added 502.75 points or 2..01% to settle at 25,472.83.
The BSE Small-Cap index rose 574.38 points or 1.95% to settle at 30,032.14.

Week Ahead

Global and domestic macro economic data, trend in global stock markets, the movement of rupee against the dollar and crude oil
prices will dictate trend on the bourses in the trading week ahead.
Investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) will also be watched.
On the macro front, the Industrial Production and Manufacturing Production data for November will be declared on 12 January 2022.

Technical Overview

Index closed with a gain of 2.64% at 17812. Index opened on a flat note and remained strong throughout the week ending week with decent gains and near weekly highs. Going ahead index has an intermediate resistance around 18000, sustenance above the same will open the way for 18200-18500. While on the other hand support is placed around 17600-17380-17000.

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Weekly Report: 15th Jan 22

Weekly Trend Report

Week Gone By

In the week ended on Friday, 14 January 2022, the Sensex jumped 1478.38 points or 2.47% to settle at 61,255.75. The Nifty 50 index advanced 443.05 points or 2.49% to settle at 18,255.75.
The BSE Mid-Cap index spurted 612.41 or 2.40% to settle at 26,085.24.
The BSE Small-Cap index rallied 919.14 points or 3.06% to settle at 30,951.28.

Week Ahead

Trend in global stock markets, the movement of rupee against the dollar crude oil prices will dictate trend on the bourses in the near term.
Investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) will also be monitored.
Build up to the upcoming budget session would be another key event that the market would be looking for in January 2022.

Technical Overview

Index closed with a gain of 2.49% at 18256. Index opened the week on a positive note and remained strong throughout the week ending near weekly highs. Index continue to form higher higher and lows for the fourth consecutive week in a row. Index has surpassed resistance zone of 18150-18200, till index stays above the mentioned zone index likely to scale higher towards 18400-18600-18900. While support past 18150 comes at 18000-17700-17500.

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Weekly Report: 22nd Jan 22

Weekly Trend Report

Week Gone By

The benchmark indices logged strong losses in the week ended Friday, 21 January 2022 on selling pressure in index . The Nifty closed below 17,700 mark while the Sensex ended below 60,000 levels
The BSE Mid-Cap index lost 4.35% to settle at 24,951.67. The BSE Small-cap index declined 3.18% to settle at 29,967.21.
Increasing coronavirus cases, unabated selling by foreign portfolio investors and muted corporate earnings further dampened the
sentiment.

Week Ahead

Earnings announcements from India Inc will continue to remain in focus in the truncated trading week ahead
Stock Markets will remain closed on Wednesday , 26 January 2022 on account of Republic Day.
Investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) will also be watched.
The US FOMC meeting is scheduled to begin on January 25 and conclude on January 26 . As per the reports , the federal reserve
will began an aggressive series of rate hikes

Technical Overview

Index closed with a loss of 3.50% at 17617. Index opened the week on a subdued note and witnessed sharp selloff ending the week near weekly low with deep cuts. Index has formed wide bearish candlestick which suggests caution on an ongoing uptrend. Going ahead index has an immediate support 17450-17200-16980. While on the higher side resistance is placed at 17780-17900-18200.

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