Nifty (spot) last close : 9955.20
What a terrible week!! Nifty weekly loss 1034 points (8.70%). But swing was 2750 points… Oops!!
On Monday Nifty loss 538 pts, Wednesday closes flat, Thursday Nifty fell 868 pts, and Friday Nifty gained 375 points. Net 1034 points declined.
Global market also fell heavily, Likes Dow in last week Monday -2013 pts, Tuesday +1167 pts, Wednesday -1465 pts, Thursday -2353 pts and Friday gained 1985 points
Everyday US markets was moved four digits
On global, Virus cases increased in worldwide likes US, Europe, India, and Gulf zone
China says controlled cases and many temporary hospitals has closed
In India, IPL match postponed, Ind-SA ODI matches cancelled, Many states closed schools, colleges and cinema theaters.
India has reported Virus case death 1 and patients 85 ( on 10 PM/ 14th March)
Weekly loss of sectoral indices were Nifty metal -12%, Media 16%, Auto -11%, and IT -14%
UBS has cut India’s GDP growth forecast to 5.1%
As per technical chart, Nifty (spot) facing a weekly trends 10550 and 8550
If all is well, If comes any positive news Nifty will be moved 10150, 10380 and 10550
Expecting maximum rally up to 10550………Suppose if crossover 10550
Will move further rally up to 10900. Chances are highly remote.
Positional traders, Intraday players can watch above levels. Once if comes don’t wait SELL SELL
Nifty spot considering supports 9510, 9125, 8850 and 8550
Last and final support at 8550. If breaks and closes below the level
Ultimate Target 7900 and 7500 (Mind voice : It’s too much level) What can I do ? ?
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Updated : 10.08 PM / 14th March 2020
