WEEKLY MARKET SCENARIO 04 APRIL 2020


WEEKLY REPORT (04 APRIL 2020)

INDIA VIX: 


AS PER WEEKLY CHART STRUCTURE INDIA VIX CHART MADE EVENING START PATTERN WHICH IS SUGGESTING US MARKET HAS TRADING IN OVERSOLD ZONE.

INDEX WILL BE TRADE IN DOWNSIDE IN COMING PERIOD. AS COMPARED TO LAST WEEK WE SAW HUGE SELL OFF IN INDIA VIX. WE SAW INDIA VIX RETRACED MORE THAN 38% FROM ITS TOP ON WEEKLY CHART. IN COMING WE WILL BE SEEING MORE DOWNSIDE IN INDEX ALL THE WAY UP TO 48 -39.


INDIA VIX WEEKLY CHART



NIFTY 50 WEEKLY CHART:

AFTER THE CHANNEL BREAKDOWN AT 10560 LEVELS WE HAD SAW HUGE SELL OFF IN INDEX ALL THE WAY UP TO 7500.WE SAW ALMOST 3000 POINT DOWNSIDE RALLY IN INDEX AFTER CHANNEL BREAKDOWN.

AS COMPARED TO LAST WEEK INDEX HAS GIVEN A NEGATIVE CLOSE BUT NOT BROKE ITS PREVIOUS LOW THE MOMENTUM INDICATOR ALSO TRADING IN OVERSOLD ZONE.

IN COMING PERIOD WE WILL BE SEEING REVERSAL IN INDEX FOR TARGET OF 8600-9000.

NIFTY 50 WEEKLY CHART



NIFTY BANK WEEKLY CHART:


AS COMPARED TO NIFTY 50 INDEX, BANK NIFTY ALSO GIVEN HUGE SELL OFF AFTER CHANNEL BREAKDOWN. WE HAD SEEN ALMOST 12000 DOWNSIDE RALLY AFTER CHANNEL BREAKDOWN FROM ITS LEVEL OF 28000.

AS COMPARED TO LAST WEEK INDEX GIVEN NEGATIVE CLOSE BUT THE MOMENTUM INDICATOR SUGGESTING US THE INDEX IS TRADING IN OVERSOLD.

IN COMING PERIOD WE COULD SEE LIMITED DOWNSIDE TILL 16000 LEVEL THEN WE WILL BE SEEING BOUNCE BACK ALL THE WAY UP TO  20000.


NIFTY BANK WEEKLY CHART





NIFTY MID-CAP 100 WEEKLY CHART:

AFTER TREND LINE BREAKDOWN ON WEEKLY CHART AT THE LEVEL OF 14200 WE SAW HUGE SELL OFF IN INDEX ALL THE WAY UP TO 10750.

AS WE ARE SEEING INDEX IS TRADING IN OVERSOLD ZONE SINCE LAST 3 WEEKS. AND CURRENT WEEK INDEX HAS GIVEN A NEGATIVE CLOSE BUT IT HAS MADE A INVERTED HAMMER PATTERN WHICH IS SUGGESTING US DOWNSIDE RALLY COMING TO END. WE HOPE TO INDEX WILL BE REACHING AGAIN 12000 LEVELS IN COMING 2-3 WEEKS.

NIFTY MIDCAP 100 WEEKLY CHART

NIFTY SMALL CAP 100:

AS WE ARE SEEING INDEX HAS STRUGGLING TO MORE DOWNSIDE SINCE LAST 2 WEEKS. INDEX IS ALREADY TRADING IN OVERSOLD ZONE.

IN COMING PERIOD 3200 IS STRONG SUPPORT FOR INDEX. WE ADVICE TO BUY AT EVERY DECLINE FOR TARGET LEVEL OF 4000-4200 IN COMING 2-3 WEEKS.
NIFTY SMALLCAP 100 WEEKLY CHART


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