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sensex – Market Outlook for this Week ! 20/06/2022

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sensex – Market Outlook for this Week!

sensex – Nifty started the week on a negative note and extended bearish sentiments for most part of the week dragged it lower to close in negative territory.

Nifty closed at 15294 with a loss of 908 points on a weekly basis.

sensex – On the weekly chart the index has formed a long bearish candle forming lower High-Low compare to previous week indicating weakness at current levels.

The chart pattern suggests that if Nifty crosses and sustains above 15400 level it would witness buying which would lead the index towards 15600- 15700 levels.

However if the index breaks below 15100 level it would witness selling which would take the index towards 15000-14500

Nifty CMP- 15294

Support- 15000-14500

Resistance- 15500-15800


sensex – Tech Stock for this Week-Elecon Engineering Company Limited

sensex – On the weekly chart, the stock has witnessed “rounding bottom” breakout around 220 levels and sustaining above the same.

This breakout is accompanied with huge volumes indicating increased participation. The stock is well placed above its 20, 50 , 100 and 200 SMA which reconfirmed bullish trend.

The daily and weekly strength indicator RSI is in bullish mode along with positive crossover which supports rising strength in near term.


Stop Loss- 233

Target- 310

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Vivek Dhumale

SEBI Registered Research Analyst

[email protected]

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