Weekly Report: 23rd July 22

Weekly Trend Report

Week Gone By
  • In the week ended on Friday, 22 July 2022, the Sensex declined 2311.45 points or 4.3% to settle at 56,072.23. The Nifty 50 index lost 670.25 points or 4.18% to settle at 16,719.45.
  • The BSE Mid-Cap index rose 3.53% to settle at 23,660.37.
  • The BSE Small-Cap index gained 3.86% to settle at 26,773.41.
Week Ahead
  • The US Federal Reserve (Fed) will announce its interest rate decision after its two-day policy meeting on 27 July 2022
  • Japan will announce Consumer Confidence data for July on 29 July 2022
  • USA will announce New Home Sales Data for July on 26 July, 2022.
Technical Overview
Index opened the week on a flat note, index gained strength as the week progressed and ended the week near the weeks high with strong gains. Going ahead index has an immediate resistance around 16850-16900 zone which coincides with 50% retracement level of it’s prior fall, sustenene above the same will open the way for 17100-17250. Whereas on the other hand support is placed at 16580-16400-16150.

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