WEEKLY REPORT AS ON 23 MAY 2020

INDIA VIX>>>>

As per weekly chart index had opened gap down below its major support level of 30 and then we saw huge upside till 41 level and also broken previous high but not able to sustained above this level and at end of week ended at 32.3775.there is no upside demand seeing in index for coming week. In coming week we will be seeing index in sideways to downside move till 27-25 level.

The momentum indicators also not supporting index to go upside.

Even On daily chart index is trading in downside channel with making lower top lower bottom pattern formation. which is suggesting us downside is due.


INDIA VIX WEEKLY CHART
INDIA VIX DAILY CHART



NIFTY 50 >>>>

Last 4 weeks index is trading with lower top lower bottom formation. last week index has given close 9039 after our lower side target 8900 achieved. Last week index ended negatively but it has made a hammer pattern which suggesting us index is trying to make bottom. Index has support near 8700 .

in coming period we are seeing maximum  open interest at 9000-9500 level which suggest us limited downside and upside is open .but we have monthly expiry in coming week it will be a volatile week for us.

IN coming period we will be seeing index trading range between 8800-9300/9500.

The Momentum Indicators is still in weak zone which is critical for index.  


NIFTY 50 WEEKLY CHART


NIFTY BANK >>>>

As we had mentioned in our last week Index has downside due and we have achieved our downside target of 17100.

Last week we have RBI policy and we have seen rate cut of 40 basis on that basis are expected market will go up but we have seen huge sell off in index all the way of 17100.

Last week index fall from 18750 level but we have seen index has not broken 17000 level which is strong support of index.

The momentum Indicator also oversold zone and Adx also seeing oversold zone.

in coming period we are expecting Bounce back in index till 18300.
index has limited downside at 16000 level if any breakdown below 17000 level.


NIFTY BANK WEEKLY


NIFTY MIDCAP 100 >>>>

As compare to Last week Index has ended negatively but well above its major support level. Last week index has broken its important support level of 12600 and made new low of 12389 but at the end week it has manage to close above 12600 and given close of 12762.

The level of 13750 is strong resistance zone any breakout above this level  we will be seeing index all the way up to 14000. Till the time trading range of mid cap index is 13750-12600.

We will accumulate good quality stocks on every dips and we will book profit around 13000-13500.


NIFTY MIDCAP 100 WEEKLY

NIFTY SMALLCAP 100>>>>

Index has given week on week negative closes but trying to trading in narrowed range.

as we are seeing on weekly chart index has resistance at 3970-4000 level below this level we will be seeing sideways trading in small cap index .

we have to wait for opportunities above 4000 , the momentum  in index will start only above this level. Till the time we will invest in quality stocks at every dips.

NIFTY SMALLCAP 100 WEEKLY


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