Weekly Report: 8th Jan 22

Weekly Trend Report

Week Gone By
  • In the week ended on Friday, 31 December 2021, the Sensex rose 1490.83 points or 2.56% to settle at 59,477.65. The Nifty 50 index gained 458.6 points or 2.64% to settle at 17,812.70.
  • The BSE Mid-Cap index added 502.75 points or 2..01% to settle at 25,472.83.
  • The BSE Small-Cap index rose 574.38 points or 1.95% to settle at 30,032.14.
Week Ahead
  • Global and domestic macro economic data, trend in global stock markets, the movement of rupee against the dollar and crude oil
    prices will dictate trend on the bourses in the trading week ahead.
  • Investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs) will also be watched.
  • On the macro front, the Industrial Production and Manufacturing Production data for November will be declared on 12 January 2022.
Technical Overview
Index closed with a gain of 2.64% at 17812. Index opened on a flat note and remained strong throughout the week ending week with decent gains and near weekly highs. Going ahead index has an intermediate resistance around 18000, sustenance above the same will open the way for 18200-18500. While on the other hand support is placed around 17600-17380-17000.

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