The Good Bad and Ugly weekly review : 23 Sep 20221 min read

The frustration continues . . . Nifty has made two attempts to break the receding trendline but has failed to sustain the stiff resistance around this zone. Positive global cues and results from major constituents can be crucial if we are to witness a fresh all time high on Nifty.
Nifty closed the current week at (-1.16%) while Nifty Next 50 (-1.54%) & Smallcap 250 (-1.64%) were the weakest. Despite doing quite good in the last 3 months, the performance in the last couple of months has been flat which isn’t a very encouraging sign particularly in the middle of a very solid rally that began around Mid June. Overall, Nifty Next 50 has remained the best performing index in the current FY clocking (+5.6%) while Nifty has stayed flat.
As we witness usually during times of weakness, money took shelter in sectors like PHARMA and FMCG which were the strongest this week returning (+2.1%) & (+3.8%) respectively while almost the rest of the entire pack remained weak. ENERGY & PSE lost (-4.4%) & (-4.9%) respectively. however on FY 23 basis, AUTO (+24%) , FMCG (+23%) & PSU Banks (+23%) have been the torch bearers.
WeekendInvesting Strategies performed relatively well compared to the respective benchmarks this week. Mi ATH 2 continues to do extremely well clocking (+1.42%) this week. This strategy also has been our best performing strategy in both last month (+9.6%) as well as in the last 3 months clocking (+33%) compared to (+14%) on it’s benchmark – the CNX 500 index.

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