Weekly Report: 10th Sep 22

Weekly Trend Report

Week Gone By
  • In the week ended on Friday, 09 September 2022, the Sensex rose 989.81 points or 1.68% to settle at 59,793.14.The Nifty 50 index
    gained 293.90 points or 1.68% to settle at 17,833.35
  • The BSE Mid-Cap index rose 1.86% to settle at 25,937.22
  • The BSE Small-Cap index gained 2.53% to settle at 29,528.74
Week Ahead
  • India’s Inflation based on wholesale price Index (WPI) for August will be declared on 14 September, 2022
  • The United States will declare its Inflation data for August on 13 September, 2022
  • China will announce Industrial Production data for August on 16 September, 2022
Technical Overview
The previous gap-down area defined by the levels of 17475 – 17180 coupled with the shorter term EMA underpinned a sharp technical pullback such that the head index managed to close above the channel. This indicates a stronger base going forward. Nifty faces immediate overhead pivotal resistance at 17992 and sustenance above the same can attract further bullish momentum. The support comes near 17750 – 17450 – 17150 whereas resistance is near 18000 – 18120 – 18350.

To view the detailed report click on the Download Report link below