Weekly Market Report
NASDAQ-Global Leading Tech
The NASDAQ Index corrected by 1% and closed at 24,380 in the last week. The critical support is expected at 24,300 levels and next resistance is expected around 25,800 levels.
JD.com & Micron Tech were the strongest stocks for the week, rising around 30% & 15% respectively.
The NASDAQ Index is expected to bounce back this week
CRYPTO
What is the general sentiment for Crypto?
The sentiment towards the cryptocurrency market remained in the Extreme FEAR zone. Compared to last week, the Fear & Greed Index increased from 8 to “23”. Historically whenever the index had gone below 15, the sentiment has reversed, this time it is no different.
CVDD-TOP CAP PRICE CHART INDICATOR
Bitcoin is expected to reverse from its downward trend. As per the Terminal price model, Bitcoin’s cycle top price prediction is around $297,000 and Bottom is around $47,000
Bitcoin chart
$BTC gained 10.4% and closed at 72.8K in the last week. The immediate support is expected at $60K and resistance is expected at $83K. Bitcoin is expected to gain this week.
ETH/USDT
$ETH gained 11.6% and closed at $2.17k in the last week. An immediate support is expected around $1700 and resistance is expected around $2600 levels. ETH is expected to gain this week
Strong momentum tokens to watch for – DEXE & SKY.
NIFTY
The Nifty50 Index corrected by 5.3% and closed at 23,151 in the last week. An immediate support is expected around 22,000 and resistance is expected around 24,350 levels. Nifty is expected to bounce back this week
Sector expected to perform in the coming week – Pharma & Capital Goods
PICK OF THE WEEK - KIRLOSENG
MINTALPHAA - AI Based Stock Portfolio
MintAlphaa: Where Cutting-Edge AI Meets Superior Returns. Unlock the potential of the market with our high-performing AI portfolios and advanced investment strategies.
Automate your stock investments today with MINTALPHAA
Listen to our founder speaking about crypto investments on the Spotify podcast with financial express.