Weekly Trend Report
- 15/10/2022
- October 17, 2022
Week Gone By
- In the week ended on Friday, 14 October 2022, the Sensex lost 271.32 points or 0.47% to settle at 57,919.97. The Nifty 50 index fell 128.95 points or 0.74% to settle at 17,185.70
- The BSE Mid-Cap index slipped 2.66% to settle at 24,709.86
- The BSE Small-Cap index declined 2.26% to settle at 28,522.85
Week Ahead
- Asian Paints, Axis Bank, Bajaj Finance, ITC, UTI Asset Management Company will announce results on 20 October 2022
- Ambuja Cements, Bajaj Finserv, HDFC Life Insurance Company, Hindustan Unilever, SBI Life Insurance and United Spirits will announce results on 21 October 2022
- US will announce Housing Starts and Building Permits data for September on 19 October 2022
Technical Overview
Index opened the week with gap down and remained volatile as the week progressed, ending the week with minor loss. Index has formed inside bar candlestick pattern suggests squeeze in volatility. Also, near the same juncture Nifty has been taking support at 20 WEMA from last 3 weeks indicating key support to watch out for. RSI is placed around a neutral zone (50 levels) highlights indecisive behaviour. Going ahead index has immediate support around 17000-16800-16600. While on the higher side resistance is present around 17320-17550-17800.
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