Weekly Report: 5th Mar 22

Weekly Trend Report

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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