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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