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Wednesday, February 5, 2020
Week 06-2020 Mid Week Update
Index remained lack luster, breaking its last band of support at 40900 +/- 100 as mentioned in previous update ( link here )
Although marginal gains were expected on last trading day of Feb 04, it can be attributed to futures settlement of January and perhaps some short covering.
Market capitalization has continued to shrink, and week six opened with a significantly lower value.
Looking forward, we expect the correction trend to continue with index bottom falling in the range of 39800 - 39500 +/- 100 point.
Technically speaking, 42800 +/- 300 is proving to be a firmly held bottom but overall bears refuse to surface. The major trend remains side ...
The week started off with the COVID-19 Omicron variant washing global markets into deep red, causing the index to briefly hit its second ma...