Weekly Trend Report
- 14/05/2022
- May 14, 2022
Week Gone By
- In the week ended on Friday, 13 May 2022, the Sensex slumped 2,041.96 points or 3.72% to settle at 52,793.62. The Nifty 50 index fell 629.10 points or 3.83% to settle at 15,782.15.
- The Broader market collapsed. The BSE Mid-Cap index fell 1313.95 or 5.68% to settle at 21,815.66.
- The BSE Small-Cap index fell 1776.66 points or 6.56% to settle at 25,315.75.
Week Ahead
- India’s inflation based on wholesale price index (WPI) for April will be unveiled on Tuesday, 17 May 2022.
- The annual wholesale price inflation rate in India rose to a four-month high of 14.55% in March 2022 from 13.11% a month earlier.
- Overseas, China’s industrial production for April will release on Monday, 16 May 2022. China’s industrial production grew by 5% YoY in March 2022
Technical Overview
Index opened the week with gap down and remained under pressure for most of the sessions, ending the week near weekly low below 15800 levels. Going ahead index has an cruical support at 15600, sustenance below the same shall trigger further selling towards 15480- 15250. Whereas on the higher side resistance is placed at 1600-16200-16550.
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