Weekly Trend Report
- November 06, 2023
Week Gone By
- In the week ended on Friday, 03 November 2023, the S&P BSE Sensex jumped 580.98 points or 0.91% to settle at 64,363.78. The Nifty 50 Index gained 183.35 points or 0.96% to close at 19,230.60
- The BSE Mid-Cap index rose 2% to close at 31,735.86.
- The BSE Small-Cap index added 1.90% at 37,589.06.
Week Ahead
- The US Non Farm Payrolls data and employment rate for October will be disclosed on 3rd November 2023.
- The US ISM Services PMI for October will be declared on 3rd November 2023.
- China will announce the inflation rate for October on 9th November 2023.
Technical Overview
The benchmark index saw a positive opening for the trading week, however, it largely remained range-bound within 336 points with the zone of 19235-19330 acting as the immediate supply zone. On the derivative front, the strikes of 19200 saw the highest addition in put OI while the strikes of 19300 saw the highest addition on the call side indicating immediate resistance. The index is anticipated to attract bullish strength on decisively reclaiming the zone of 19235-19330.
Supp: 19230-19020-18850
Res: 19330-19440-19620
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