WEEKLY INDEX ANALYSIS (25 APRIL 2020)
WEEKLY REPORT INDIA VIX : AS PER WEEKLY CHART , WE SAW INDEX HAS ALMOST CORRECTED 61.8% FROM THE TOP AND CURRENTLY TRADING AT SUPPORT LEVEL OF 39. THE ADX INDICATOR IS TRADING STRONGLY , ANY BREAKDOWN BELOW 39 LEVEL WE WILL BE SEEING INDEX ALL THE WAY UP TO 35-30 LEVEL. RSI ALSO SLOPPING DOWN SIDE AND TRADING BELOW 60 LEVEL WHICH IS SUGGESTING US INDEX IS STILL AT CRITICAL LEVEL AND DOWNSIDE IS STILL DUE. INDIA VIX WEEKLY NIFTY 50 SPOT : AFTER BOTTOM OUT AT 7511 WE SAW POSITIVE REVERSAL AND MADE A HIGH OF 9385. LAST WEEK WE SAW INDEX MADE A HIGH OF 9385 BUT NOT SUSTAIN THIS HIGH AND ENDED NEGATIVELY AS COMPARED TO PREVIOUS WEEK. CURRENTLY INDEX HAS TRADING AT SUPPORTIVE UPTREND CHANNEL AND HAVING NEXT SUPPORT AT 8900.INDEX IS STILL STRUGGLING FOR UPSIDE MOVE.IN COMING WEEK INDEX WILL BE IN SIDEWAYS MOVE. THE MOMENTUM INDICATOR ALSO TRADING WEAK, WHICH ...