Summary: Last week, the Index experienced a bearish trend, marking its fifth consecutive week of decline. On the daily chart, the Index has been forming a sequence of lower highs and lower lows for the past 26 trading sessions. In the recent dip, the Index lost over 3.5% from its peak. The Index has closed below an important support level that has been held for the past few weeks.

Recent technical developments suggest that the bearish trend will continue. The Index will continue to be under pressure as long as it remains below a 19500 level, with potential support levels in the range of 18800 to 18600. In the coming week, the bearish view is expected to continue, and it is important for traders and investors to be cautious. Investors may consider an accumulation strategy when the Index hovers around the important support level of 18800 to 18600.

In terms of sectors, the Auto and Energy sectors have been underperforming for the past few weeks, while mid and small-cap stocks have shown strength. Stocks like Persistent, Century textile, and Castrol look promising, while L&TFH and JSWSTEEL appear weak for the upcoming week

Discord : https://discord.gg/mtYPnWrWVw

Telegram : https://t.me/joinchat/96ABOeDO5fw4YTJl

Instagram :  https://www.instagram.com/finlearnacademy

Twitter :  https://twitter.com/FinLearnAcademy

Please Note: This video is an initiative by FinLearn Academy for education purposes only.