Weekly Report: 13th Feb 23

Weekly Trend Report

Week Gone By
  • In the week ended on Friday, 10 February 2023, the Sensex fell 159.18 points or 0.26% to settle at 60,682.70. The Nifty 50 index rose 2.45 points or 0.01% to settle at 17,856.50.
  • The BSE Mid-Cap index rose 1.78% to settle at 24,890.44.
  • The BSE Small-Cap index rose 1.42% to settle at 28,263.05.
Week Ahead
  • On the Macro front, Wholesale Price Index (WPI) inflation for January is due on 14th February 2023. Inflation rate for January will be declared on the same day.
  • US will announce Retail Sales data for January on 15th February 2023.
  • US will announce Inflation rate for January on 14th February 2023.
Technical Overview
The 50 index has phased through 2 eventful weeks comprising of the Union Budget, Fed Rate Hike and the monetary policy announcement on decremented volatility. The pattern analysis shows that the index dithers in a broad range consolidation between 20 and 50 WEMA showing no directional bias. The VIX cooled off 11.5% to 12.74 levels which is near to the lowest level seen in recent times and so the markets need to be approached on a cautious note. The index will have to reclaim the pivotal resistance zone in between 18100 to 18270 to gain further traction.

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