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Daily analysis : INFORMATION REGARDING NEW BATCH

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Weekly analysis : ACTION SHIFTS TO MID & SMALL CAPS - 07/08/2020

ACTION SHIFTS TO MID & SMALL CAPS – 07/08/2020.

 

SETTLING IN A TRADING RANGE.

 

After being witness to a stupendous one way Rally of over 50% in Nifty and Sensex, the focus now seems to be shifting. The figures this week suggest that the Nifty has now settled in a Trading Range from 10900-11400. The lower boundary of this Trading Range is a result of 200dma and a constantly rising Trendline (which continues to defy gravity). The upper boundary is a result of historical Weekly Trendline obtained by joining bottoms made in Oct 2018 and Sep 2019. Even though the weekly gain for the Nifty was above 1% but the action has clearly shifted to the Mid & Small Cap arena; both of which registered a weekly gain of 4% to 5%. To register good returns in the near term, one should focus on good Mid & Small Cap stocks; till the time Nifty gives a breakout of the Trading Range which it has got into.

 

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