Weekly Report: 18th June 22

Weekly Trend Report

Week Gone By

In the week ended on Friday, 17 June 2022, the Sensex lost 2,943.02 points or 5.42% to settle at 51,360.42.The Nifty 50 index dropped 908.30 points or 5.61% to settle at 15,293.50.
The BSE Mid-Cap index fell 5.31% to settle at 21.295.93.
The BSE Small-Cap index declined 6.67% to settle at 24,133.88.

Week Ahead

Japan will announce inflation rate for May on 24 June 2022
The US, Existing Home Sales data for May will be announced on 20 June 2022
China will announce Loan Prime Rate for 1 year and 5 years on 20 June 2022.

Technical Overview

Index opened the week with wide gap down and remained under pressure throughout the week, ending the week with deep cuts. Going ahead index has an immediate support around 15100, which is 78.6% retracement support. Failure to defend this support will open the way for 14850-14630. While on the other hand immediate resistance is present around 15400-15650-15830.

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