Stock Markets Recap Week Of 22nd July 2022

Summary:

• In the week gone by, Index has formed a strong bull candle with a 4% improvement. The recent up leg is of near to 10%.
• The index has approached the crucial resistance of the 16800 level but no weakness has been observed. Banking stocks took lead to drive the market. It has become make or break situation for the coming week.
• The index will retain positivity as far as it sustains above the 16400 level which is the lower band of the gap down area.
• Moving above 16800 will be considered as a further continuation of the bullish movement. The next best resistance zone will be in the 17200 to 17400 range.

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