Stock Markets Recap Week Of 28th October 2022
29Oct, 2022
Kapil Shah - Instructor
Summary
- In the Week gone by, the Index is up by little more than 1%. In the Truncated week, the Index oscillated in the range of 17600 to 17800
- The index took support at the 16800 level followed by breaches of intermediate resistance and higher high & higher low sequence
- The index is at the weekly resistance level but no sign of weakness yet. This combination forms a positive view of the Index
- Moving above the 17800 level will confirm further upside movement up to the 18100 level.
- The index will remain in the bullish zone in short term as far as sustaining above the 17600 level and 17370 in the mid-term
- From a Sector perspective banks, auto, CPSE and energy stocks are in movement while mild weakness in FMCG, media and pharma is observed
- Large-cap stocks are in a better position than mid-cap and small-cap
Resistance: 17800/18100
Support: 17600/17370
Discord
https://discord.gg/mtYPnWrWVw
Telegram
https://t.me/joinchat/96ABOeDO5fw4YTJl
https://www.instagram.com/finlearnacademy/
Please Note: This video is an initiative by FinLearn Academy for education purposes only.