Weekly Report: 23rd Jan 23

Weekly Trend Report

Week Gone By
  • In the week ended on Friday, 20 January 2023, the Sensex rose 360.59 points or 0.60% to settle at 60,621.77. The Nifty 50 index rose 71.05 points or 0.40% to settle at 18,027.65
  • TThe BSE Mid-Cap index fell 0.66% to settle at 25,005.19
  • The BSE Small-Cap index declined 0.79% to settle at 28,630.19
Week Ahead
  • Q3FY23 Results will continue to remain in focus for the week
  • The United States Durable Goods Orders for December will be declared on 26 January 2022
Technical Overview
The 50 indexes continued to dither in the defined trading range of 350 points and continued to form a series of 4th inside bar indicating volatility compression without showing any directional bias. The compression is coming at the back of 20 WEMA which has been tested consecutively 5 times and closely lies in the proximity of 100 DEMA and 78.6% retracement level. The index is anticipated to attract bullish momentum on a decisive closing above 18270 and sustenance above the 20 WEMA.

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