Weekly Report: 5th Nov 22

Weekly Trend Report

Week Gone By
  • In the week ended on Friday, 4 November 2022, the Sensex advanced 990.51 points or 1.65% to settle at 60,950.36 .The Nifty 50 index gained 330.35 points or 1.86% to settle at 18,117.15
  • The BSE Mid-Cap index rose 2.39% to settle at 25,647.07
  • The BSE Small-Cap index rose 1.46% to settle at 29,107.24
Week Ahead
  • The corporate results for the second quarter of the current fiscal (Q2FY23), July to September period, will continue to remain in focus.
  • China will announce inflation rate for October on 9 November 2022
  • The United States will announce inflation rate for October on 10 November 2022
Technical Overview
Index opened the week with a bullish gap up and continued to scale higher as the week progressed ending the week on a strong note. Index surpassed its previous swing high which denotes strength in trend. Going ahead till index manages to hold above 18000, Nifty is expected to head higher towards 18280-18450-18600. Whereas support past 18000 comes at 17850-17680-17400.

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