WEEKLY REPORT AS ON 02 AUG 2020

PROFIT BOOKING IN MIDCAP & SMALLCAP 

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INDIA VIX >>>>

We have been seeing India vix trading with lower top lower bottom formation. An Index has stiff resistance at 26.56 levels. Which is 78.6% level. last two weeks Index trying to move upside but it has not able to break its previous top, which is not sign of index.

For coming a week any breakdown below its support level of 22-20 we could be see movement in an index. Till the time an index range could  be 23-26 level.

The momentum indicator also in flat around 43 level.

INDIA VIX WEEKLY

NIFTY 50 >>>>

After, positive rally last week we have seen little supply at the top. An Index has made a new high but it hasn't sustained it from then we have seen supply till 11026.

 An Index has also not broken earlier week low which is also cautions for sellers.

 For coming a week an index has support around 11000-10900 of 100 wma & 50 wma.

 Any breakdown below  this level we could be see selling pressure in an index .

 After, a breakout at 11300 upside 11500 level will be open in an index.

 RSi indicator is resisting around 60 level which is selling pressure indication for a coming week.

NIFTY 50 WEEKLY

 NIFTY BANK >>>>

As we had mentioned in our earlier week , An Index was heavy at top level, this week we have seen a huge sell off in an index.

 After, opened below earlier week an Index has made high and open same which was early selling pressure indication at the beginning of the week .

 For a coming week an index will be upside only above 23300.

Currently index in sell zone having support near 21000 any breakdown below this level we could see more downside till 20000 level.

 The momentum Indicator  also not supporting an index to move upside.

NIFTY BANK WEEKLY

NIFTY MIDCAP100 >>>>

After, reached at 61.8% of previous fall, we have seen an index is now not sustaining upside. Even this we have seen after made a new high of 15661 supply pressure and an end of the week an index has given negative close .

 An index has ended below its 50 wma which is suggesting profit booking happening at top level.

 In a coming week any breakdown below 15300 we could see heavy supply in an index .

 Incoming period index has immediate support of 15135 any breakdown below this level we could see index all the way up 14750. Till we will book profit in at every rise.

 RSI indicator also has resistance at 60 level.

NIFTY MIDCAP100 WEEKLY

NIFTY SMALLCAP100>>>>

Even in Smallcap , we have seen profit booking at top level.An index has the strong resistance at 5138 of 50wma near its immediate top.

 For a coming week we are seeing an Index has capped  around 5150 and downside open till 4650 if nay breakdown below 4850.

 

NIFTY SMALLCAP 100 WEEKLY

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