This/Next Week Forecast (March 15 – 19, 2021)
Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 3959, which will be followed by reaching resistance level 4040 and if it keeps on moving up above that level, we may expect the market to reach resistance level 4400.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 3862, which will be followed by moving down to support level 3785 – 3720.
previous week forecast
Fundamental Analysis
Economic recovery shows potential for uptrend to the level 4400 – 4800.
Monthly Forecast, January 2021
Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 3862, which will be followed by reaching resistance level 3990 and if it keeps on moving up above that level, we may expect the market to reach resistance level 4065.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 3862, which will be followed by moving down to support level 3705 – 3656.
previous month forecast
