Weekly Report: 26th Nov 22

Weekly Trend Report

Week Gone By

In the week ended on Friday, 25 November 2022, the Sensex advanced 630.16 points or 1.02% to settle at 62,293.64.The Nifty 50 index gained 205.1 points or 1.12% to settle at 18,512.75
The BSE Mid-Cap index rose 1.83% to settle at 25,595.63
The BSE Small-Cap index gained 1.57% to settle at 29,201.63

Week Ahead

India’s GDP for the third quarter will be released on 30 November 2022
Japan will announce Consumer Confidence data for November on 1 December 2022
In US, Non Farm Payrolls data for November will be announced on 2 December 2022

Technical Overview

Nifty opened the week on a weak note but recovered strongly finding support around 18150, to end the week on a strong note with a gain of 1.12% Index rebounded smartly finding support around its previous resistance zone highlighting the law of polarity into play which is a bullish signal. RSI inching higher and trading above 60 levels shows momentum in price. Going ahead index has an immediate support around 18280-18100-17900. Whereas on the higher side resistance comes at 18620-18880-19000.

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