WEEKLY REPORT AS ON 11 JULY 2020

FEARS IN MARKET

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INDIA VIX>>>>

As we had mentioned in our previous report Index has trading in a range of 27-24. This week index has made a high of 27.65 but it has failed to sustain this level again we have seen downfall.

Index has made a Doji pattern ,and it has given close near support level 50 wma, in coming period there is possibilities of upside move. If index failed to reverse and continuing downtrend then if any breakdown below 24 we could also see index all the way up to  20 level.

The momentum indicator also is in selling zone.

INDIA VIX WEEKLY


NIFTY 50 >>>>

Current week Index has opened gap up at 10718 and made a high of 10847.Compared to last week Index has ended positively with higher top higher bottom formation.

We have seen index has lead by Reliance ,TCS,HDFC BANK,INFOSYS,BHARTI AIRTEL etc.

Index has currently reached and facing 50 wma resistance at 10904 level. we have been seeing  huge demand in upcoming period index has trading with support level of 10600-10500 any upside breakout above 10900 we could see index all the way up to 11000-11200-11300 level.

The momentum indicator also trading in strong zone.  

NIFTY 50 WEEKLY


NIFTY BANK >>>>

As per weekly chart Index is trading in Rising wedge pattern, which is heading towards narrowing range But till we have been  seeing huge demand in index.

Last week index has made a high of 23077 but it has failed to sustain this level and again we have seen huge selling pressure in index till 22043 and it has ended at 22398 and it has able to manage higher top higher bottom pattern.

In upcoming period we are seeing huge open position near 23000 level, Index has downside support near 22500-22000 level, any breakdown below 22000 we could see selling pressure till index is in buying zone .  
  
The momentum indicators also in buying zone which is good sign for index.


NIFTY BANK WEEKLY

NIFTY MIDCAP 100 >>>>

As compared to last week index has opened gap up at 15151 and made a new high of 15495.55 then we have seen profit booking at this level and selling pressure too, but at end of this week index has manage to close positive at 15253.60.

We have seen this week index has lead by following stocks like SAIL, IVL,NALCO,M&M,TATA CONSUMER ,BOMBAYBUMAH TRADING etc.

Index has the multiple resistance at 15550-15600 level(50 wma & 61.8% of previous fall).In coming period we are seeing index has immediate support of 15135 followed by 14800.

We will be doing  fresh buying only above 15600 level with sustainable close.
till the time we will book short term profit at every rise and accumulate quality stocks at every deeps.

 The momentum indicator also is buying zone.


NIFTY MIDCAP 100 WEEKLY


NIFTY SMALLCAP 100 >>>>

As compared to last week we have seen huge buying happened in smallcap index. Index has almost rose up to 3.5% this week with most leading stocks of ujjivan ,Indiabull real estate,IRB infra,ITI etc .       

Index trading with higher top higher bottom with supports of momentum indicators.

on weekly chart index has trading above 50% of previous fall and ended at 4869 but it has multiple resistance at 5170-5200 level.

In coming period any breakout above 5200 level we could be seeing index retest again its previous immediate top 5700-6400.

NIFTY SMALLCAP 100 WEEKLY

                                                                                                  ***THE END***

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