Weekly Report: 29th Jan 22

Weekly Trend Report

Week Gone By
  • In the week ended on Friday, 28 January 2022, the Sensex tumbled 1836.95 points or 3.11% to settle at 57,200.23. The Nifty 50 index slumped 515.2 points or 2.92% to settle at 17,101.95
  • The BSE Mid-Cap index lost 3.07% to settle at 24,186.73. The BSE Small-cap declined 3.43% to settle at 28,940.18.
  • Firm crude oil prices, negative global cues and relentless selling by FPIs impacted sentiment..
Week Ahead
  • The Union Budget 2022-23, corporate earnings and macroeconomic data will be the focus in the upcoming week.
  • Earnings announcements from India Inc will continue to remain in focus in the near term
  • Investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) will also be watched
  • On the macro front, Market Manufacturing PMI for January will be declared 1 February , 2022
Technical Overview
Index opened the week on a subdued note and continued to witness volatility and selling pressure to close the week in a loss for second consecutive week. Going ahead index has an important support around 16800, till this level is held index is likely to scale higher towards 17300-17450-17650. While support past 16800 comes at 16600-16380.

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