Weekly Trend Report
- 05/03/2022
- March 5, 2022
Week Gone By
- In the week ended on Friday, 4 March 2022, the S&P BSE Sensex lost 1,524..71 points or 2.73% to settle at 54,333.81. The Nifty 50 index dropped 413.05 points or 2.48% to settle at 16,245.35.
- The BSE Mid-Cap index fell 2.35% to settle at 23,771.95.
- The BSE Small-Cap index lost 0.62% to settle at 26286.66
Week Ahead
- Market may remain highly volatile due to the Russia-Ukraine crisis.
- On the economic front, India’s industrial production data for January will be unveiled on 11 March 2022.
- India’s manufacturing production data for January 2022 will also be declared on the same day.
Technical Overview
Index opened the week on a negative note and witnessed selling pressure in last 2 session of the weeks, ending the week near weekly low with loss 2.48% at 16245. Going ahead index has an important support around 16150, failure to defend the support will open the gate for 15900-15700. While on the other hand resistance is seen at 16400-16600.
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