WEEKLY MARKET REPORT
NASDAQ – Global leading Tech Index
The NASDAQ Index remained flat around 20k levels in the last week. The critical support is expected at 19,200 levels and next resistance is expected around 20,300 levels for the coming week.
Walt Disney, Boeing and Intel were the top gainers for the week, rising around 14%, 5% and 4% respectively.
The NASDAQ Index is trading near the supply zone and is expected to consolidate a bit before breaking 20,300 levels.
CRYPTO
What is the general sentiment for Crypto?
The sentiment towards the cryptocurrency market is in the GREED zone. Compared to last week, the Fear & Greed Index increased to “70” from the previous level of “52”
CVDD-TOP CAP PRICE CHART INDICATOR
Bitcoin is expected to continue its upward movement. As per the above model, Bitcoin’s cycle top price prediction is around $205,000
Bitcoin chart
$BTC gained 10% in the last week and closed around the 104k mark. The immediate support is now expected at $93K and resistance is expected at $105K. Bitcoin is expected to continue the upwards momentum in the coming week.
ETH/BTC
As indicated in the previous week, ETH/BTC pair shot up 26%. An immediate support is expected at 0.020 level and resistance is expected at 0.026 levels. ETH is expected to outperform Bitcoin from here.
NIFTY
Nifty corrected around 1.5% in the last week. An immediate support is expected around 23,500 levels and resistance is expected around 25,000 levels. Nifty is expected to break the supply zone of 25k levels in the coming week.
Sector expected to perform in the coming week – IT & Media
PICK OF THE WEEK – MCX
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