Weekly Market Update(11/04/2022–13/04/2022) #4
The BSE Sensex declined 1100 points to 58,339, while the Nifty50 fell 55 points to 17,476 to form bearish candles on the daily as well as weekly charts. The Nifty declined 1.7 percent during the week. In this holiday curtailed week, indices closed lower on all three days with soaring inflation and a rise in oil prices.
In the coming week investors and traders will keep monitoring corporate earnings, with heavyweight Infosys, TCS and HDFC Bank coming out with their numbers in the week gone by. Technology, auto, banks, financial services, metal and infra stocks weighed down the market, while energy ditched the trend by rising 2.5.
Foreign institutional investors (FIIs) continued to sell, making the market anxious last week and limiting the upside, despite attempts by domestic institutional investors to offset some of the FII outflow. Volatility may continue to rise in the market until FII outflows reverse.
Swing Trade recommendations for the coming week
TAJ GVK on weekly chart has given a triangle breakout on weekly chart with a surge in volume.
Apollo Hospital on Daily chart is nearing a breakout with rejection from trend line and making higher highs.
This is only for educational purpose not any recommendation, cradletradle is not responsible for any kind of your profit or loss.
Wish you a great trading week ahead!!
