Weekly Market Report
NASDAQ-Global Leading Tech
The NASDAQ Index remained flat and closed at 24,960 in the last week. The critical support is expected at 24,650 levels and next resistance is expected around 25,800 levels.
Netflix & Paypal were the strongest stocks for the week, rising around 23% & 11% respectively.
The NASDAQ Index is expected to consolidate this week, some selling pressure could be seen in tech stocks
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 5 to “14”. Historically whenever the index had gone below 15, the sentiment has reversed, this could be a good buying opportunity in the crypto market.
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 corrected 2.76% and closed at 65.7K in the last week. The immediate support is expected at $60K and resistance is expected at $83K. Bitcoin has reached the demand zone and is expected to bounce back this week.
ETH/USDT
$ETH corrected 0.90% and closed at $1.94k 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 – ZRO & HYPE
NIFTY
The Nifty50 Index corrected by 1.54% and closed at 25,178 in the last week. An immediate support is expected around 24,500 and resistance is expected around 26,340 levels. Nifty is expected to consolidate this week
Sector expected to perform in the coming week – Metals & Defence
PICK OF THE WEEK - MTARTECH
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