Nifty spot : 8745.45
On last week, Nifty was fell 1210 points and Sexsex was declined 4188 points
On Monday to Thursday Nifty was seen huge selling pressure and fell 1700 points
Friday index has climbed 485 points and closed in the green mark (+5.80%).
Now, In India virus cases increased 300 so far, Really bad news
I am very scared…….No one has any awareness of virus spread
India is the most populous country. What if the virus is spreading too much then how to control ?
On last week Bloomberg warned to India “Next virus hot spot in India”
Today (22nd March) India followed People curfew…. Suppose if cases increase by next week like April first week……. India will take strict action to follow curfew for 1-2 weeks
Worldwide cases crossed 3 lakh and worst condition in Italy deaths overtook to China’s death report
FITCH and CRISIL has scaled down the expected India’s GDP growth for FY 21 to 5.1%
VIX index closed the week @ 67 up 30%. On Friday VIX fell from 73.34 to 67.10
On Friday after market hours SEBI revised Market Wide Position Limit to 50% from 90% (Maybe 70% of f&O stocks trading only for squared up)
Friday US markets fell 900 points and one month loss was 34%
FIIs sold 3345 Cr worth of stocks in cash segment whereas DIIs bought 2431 Cr
This Week Nifty (spot) Trend Decider 9130 and 7830
The price volatility was huge during the week, Nifty was made a low of 7832 and a high of 9602. That is the kind of 1800 points range.
FII’s index long and short ratio from 0.2x to 0.5x. FII’ once if start to cover their short positions expecting some recovery.
However, on the daily chart Nifty is facing a selling pressure on every rise!!
Nifty is facing a weekly resistance 8885, 9130 and 9500
If comes above level……… Hot sell and don’t think to buy at higher levels!!
On the other hand, Nifty considering supports 8170 and 7830
Suppose once if breaks and closes below 7830 (Must for weekly close)
Next strong support zone around 6800-7000
More update follow our twitter (@flyingcalls), Whatsapp (9865977321)
Updated : 09.51 AM / 22nd March 2020
