Weekly Trend Report
- March 27, 2023
Week Gone By
- In the week ended on Friday, 24 March 2023, the S&P BSE Sensex slipped 462.8 points or 0.80% to settle at 57,527.10. The Nifty 50 index lost 155 points or 0.91% to settle at 16,945.05.
- The BSE Mid-Cap index fell 1.98% to settle at 23,633.56.
- The BSE Small-Cap index declined 1.48% to settle at 26,767.
Week Ahead
- Overseas, China will announce Industrial Profits data for February on 27 March 2023.
- China will announce the NBS Manufacturing PMI for March on 31 March 2023.
- The data on Euro Area inflation rate for March will be declared on 31 March 2023.
Technical Overview
The pattern analysis shows that the index is trading within a falling channel and currently trails at the support of the pattern. The negative closing of the last trading day saw the index ending in the negative on the weekly note and slipping below the 50 weekly moving average. Despite violating the important support, it continues to rest at the lower edge of the channel pattern and sustenance above the same will be very crucial going forward. It is to be noted that Thursday is a trading holiday on account of Ram Navmi so the monthly derivative expiry will happen a day earlier than usual.
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