Nifty Spot last close : 10989.45
What a volatile wee(a)k!!…… Nifty has continued its losing streak for the third consecutive week.
Nifty fell net 215 points during the week and volatility almost 300-400 points in every day
Nifty has broken previous day’s low in last 16 days……. That’s means bear market
Didn’t expect this much of fall in global market in last one month
US market in last five sessions seen huge movements, every day 1000 points variations
In one month loss of US markets Dow 11%, Nasdaq 10% and Europe markets FTSE fell 13.45%, Dax declined 14.50%, and CAC down 14.75%
CoronaVirus death just 20% only. But world economic was collapsed due to virus
Virus spread in worldwide, Victims increased in US, Italy, Iran and Europe countries
No drug has been found yet, Really very bad news
In India, So far 32 victims found, Maybe will increased more and more because of population
In another issues going on in India……… YESBANK. In Nifty stock fell more than 50% in single day
On Friday, Morning I did mentioned in our blog “NiftyFuture will take support at 10830” @ 7.40 AM……… Friday NF was made a low of exact 10830.
Did you know ? I have recommended many selling alerts in last week NiftyFuture and booked almost 300 points profits!!
Let’s see, In coming week (09th-13th March) Nifty movements. Only 4 sessions (10th Holi holiday)
The index trend lower on the expected lines after the continued selling pressure!!
As per technical chart, Nifty spot will take support at 10825 and 10640
Chart indicating a very strong support at 10640 (Previous rally was started here)
Expecting some relaxation from that level………….Once if takes support will be move up to 11050, 11175 and 11400
Suppose if not takes support at 10640 (Nifty spot) and closes below the level
Finding a next supports 10330 and 10000…………!!
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Updated : 09.52 PM / 07th March 2020
