Weekly Report: 11th June 22

Weekly Trend Report

Week Gone By

In the week ended on Friday, 10 June 2022, the Sensex lost 1,465.79 points or 2.63% to settle at 54,303.44. The Nifty 50 index dropped 382.50 points or 2.31% to settle at 16,201.80.
The BSE Mid-Cap index fell 1.25% to settle at 22,490.32
The BSE Small-Cap index declined 2% to settle at 25,85.42.

Week Ahead

On the macro front , India’s Inflation rate for May will be unveiled on 13 June 2022.India’s inflation based on wholesale price index (WPI) for May will also be unveiled on the same day.
The US Fed Reserve will announce its interest rate decision after its two day policy meeting on 15 June 2022.
China will announce industrial production data for May on 15 June 2022.

Technical Overview

Index opened the week on a flat note and gradually inched lower as on 4 out of 5 sessions, and ended the week near the weekly lows. Going ahead Nifty has strong support around 16000-15900 zone, sustenance below the same shall trigger further selling pressure towards 15700-15450. While on the other hand intermediate resistance is present at 16300-165000-16780

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