Weekly Trend Report
- 25/06/2022
- June 25, 2022
Week Gone By
- In the week ended on Friday, 24 June 2022, the Sensex advanced 1,367.56 points or 2.66% to settle at 51,360.42.The Nifty 50 index gained 405.75 points or 2.65% to settle at 15,699.25.
- The BSE Mid-Cap index rose 2.38% to settle at 21.803.16.
- The BSE Small-Cap index gained 1.61% to settle at 24,521.93.
Week Ahead
- Auto Stocks will be in focus as Auto companies will start announcing monthly sales numbers for June 2022 starting from 1 July,2022
- The US,ISM Manufacturing PMI data for June, 2022 will be announced on 1 July 2022
- China will announce NBS Manufacturing PMI for June, 2022 on 30 June 2022.
Technical Overview
The index opened this week with a modest gap down and formed a spinning body candle showing indecision to the ongoing down leg. The Index then managed to protect the lows of Monday and saw the incremental gains as week progressed. On the weekly time frame, the price action witnessed a technical pullback multiple supports like the 100 WMA, moving average bands, and the channel support line resulting in the formation of an insider bar. Going forward the resistance comes near 15750-15900-16200 whereas support comes near 15550-15350-15180.
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