Weekly Trend Report
- 26/02/2022
Week Gone By
- In the week ended on Friday, 18 February 2022, the Sensex fell 319.9 points or 0.55% to settle at 57,832.97. The Nifty 50 ind ex decline 240 points 1.37% to settle at 17,276.30.
- The BSE Mid-Cap index fell 1.98% to settle at 23,771.95.
- The BSE Small-Cap index lost 3.29% to settle at 27,748.30
Week Ahead
- Trend in global stock markets, the movement of rupee against the dollar and crude oil prices will dictate trend on the bourses in the
near term. - Investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) will be monitored.
- The United States Durable Goods Orders for January will be announced on 25 February 2022.
Technical Overview
Index closed with a loss of 0.57% at 17276. Index opened the week with wide gap down while reversed strongly from the lows to end the week with minor loss. Going ahead index has an strong support at 16800 levels, breakdown below it will accelerate selling pressure to drag index lower till 16600-16400 levels. While immediate support is placed around 17030-16900. On the other hand immediate resistance comes at 17400-17580-17750.
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