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Wednesday, February 19, 2020
Week 08-2020 Mid Update
Market posted recovery after being range bound since the opening of the week. However, it remains to face 40600-40900 +/-100 tough resistance challenge which must break for clean upside, On bottom side index must take a clean dip towards 39500 - 38800 to reset the impact and start a fresh trend.
DoD basis, market cap began to improve for the first time in current week. Demonstrating fresh interest in buying.
Overall, we expect market to remain range bound and sideways until it makes a clean reset. Patient investor shall utilize the opportunity to accumulate in stocks resting at bottom while avoid trading in sideways stocks until they break out in a clear trend. With roll over week ahead, it may be difficult to predict the market.
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