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.