WEEKLY MARKET REPORT
NASDAQ – Global leading Tech Index
The NASDAQ Index gained around 1% & and closed above 23k levels in the last week. The critical support is expected at 22,800 levels and next resistance is expected around 24,000 levels.
Gilead Sciences, T-Mobile and Advanced Micro were the strongest stocks for the week, rising around 7.5%, 7% and 6% respectively.
The NASDAQ Index is trading within the linear regression channel with 96% correlation and is expected to continue the upward trend this week
CRYPTO
What is the general sentiment for Crypto?
The sentiment towards the cryptocurrency market remained in the GREED zone. Compared to last week, the Fear & Greed Index increased to “75” from the previous level of “71”
CVDD-TOP CAP PRICE CHART INDICATOR
Bitcoin is expected to continue its upward movement. As per the Terminal price model, Bitcoin’s cycle top price prediction is around $243,000
Bitcoin chart
$BTC gained around 2% and closed at 119k in the last week. The immediate support is now expected at $116K and resistance is expected at $125K. Bitcoin is expected to continue its upward momentum.
ETH/USDT
$ETH gained 3% and closed around $3900 in the last week. An immediate support is expected around $3400 and resistance is expected around $4100 levels. ETH is expected to continue the bullish momentum
Strong momentum tokens to watch for – ENA, PENGU & FLR
NIFTY
The Nifty50 Index corrected 0.5% in the last week. An immediate support is expected around 24,700 and resistance is expected around 25,600 levels. Nifty is expected to bounce back this week
Sector expected to perform in the coming week – Healthcare & Defence
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