Weekly Trend Report
- 22/01/2022
- January 22, 2022
Week Gone By
- The benchmark indices logged strong losses in the week ended Friday, 21 January 2022 on selling pressure in index . The Nifty closed below 17,700 mark while the Sensex ended below 60,000 levels
- The BSE Mid-Cap index lost 4.35% to settle at 24,951.67. The BSE Small-cap index declined 3.18% to settle at 29,967.21.
- Increasing coronavirus cases, unabated selling by foreign portfolio investors and muted corporate earnings further dampened the
sentiment.
Week Ahead
- Earnings announcements from India Inc will continue to remain in focus in the truncated trading week ahead
- Stock Markets will remain closed on Wednesday , 26 January 2022 on account of Republic Day.
- Investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) will also be watched.
- The US FOMC meeting is scheduled to begin on January 25 and conclude on January 26 . As per the reports , the federal reserve
will began an aggressive series of rate hikes
Technical Overview
Index closed with a loss of 3.50% at 17617. Index opened the week on a subdued note and witnessed sharp selloff ending the week near weekly low with deep cuts. Index has formed wide bearish candlestick which suggests caution on an ongoing uptrend. Going ahead index has an immediate support 17450-17200-16980. While on the higher side resistance is placed at 17780-17900-18200.
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