Weekly Trend Report
- 29/10/2022
- October 31, 2022
Week Gone By
- In the week ended on Friday, 28 October 2022, the Sensex advanced 652.70 points or 1.1% to settle at 59,959.85.The Nifty 50 index gained 210.5 points or 1.2% to settle at 17,786.8
- The BSE Mid-Cap index rose 0.98% to settle at 25,047.34
- The BSE Small-Cap index rose 0.43% to settle at 28,688.57
Week Ahead
- The corporate results for the second quarter of the current fiscal (Q2FY23), July to September period, will continue to remain in focus.
- Focus will be on the RBI meeting scheduled on 3 November 2022
- The US Non Farms Payroll data for October will be announced on 4 November 2022.
Technical Overview
Nifty opened the week on a positive note and traded in a narrow range throughout the week forming a small weekly candle, ending the week with minor gains. Index has surpassed falling resistance trendline hints at a bullish signal for medium term trend. RSI placed around 60 levels, sustenance above the same will offer further momentum in price action. Going ahead index has an intermediate resistance around 17800-17950-18100. While support is seen around 17600-17450-17300.
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