Weekly Trend Report
- 09/07/2022
- July 9, 2022
Week Gone By
- In the week ended on Friday, 08 July 2022, the Sensex advanced 1573.91 points or 2.97% to settle at 54,481.84. The Nifty 50 index gained 468.55 points or 2.97% to settle at 16,220.60.
- The BSE Mid-Cap index rose 3.64% to settle at 22,655.57.
- The BSE Small-Cap index gained 3.36% to settle at 25,640.81.
Week Ahead
- India’s Inflation based on the wholesale price index (WPI) for June will be unveiled on 14 July 2022
- the US will announce the Inflation rate and Core Inflation rate for June on 13 July 2022
- China will announce the Inflation rate for June on 09 July 2022.
Technical Overview
The index opened the week with a wide gap down, but as the week progressed index recovered its gains and remained strong for most sessions of the week, and ended the week around the week’s high above 16200. Going ahead index has key resistance around 16400, sustenance above the same will open the way for 16700-16880. Whereas, on the downside, immediate support is visible around 15930-15680-15300.
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