Last close : 11149.15
Just a glance of last week.
Over ?11 lakh cr wiped out from investor’s wealth on Dalal Street last week
Market was witnessed deep correction as CoronaVirus fear triggered the panic on global market
The Nifty ended with a weekly loss 7.28%, Banknifty 5.80% lower, Metal Index declined 14%, Media index fell 10.70%, Auto index fell 10.30% and Pharma declined 9.5%
Indian market saw a worst fall on weekly basis in several years
VIX Index closed the week @ 23 up 70%
On US market, Friday closed at 357 points lower and recovered almost 700 points from intraday low. Nasdaq has closed at flat.
Did you know ? On Thursday when NiftyFuture trading @ 11580 I did mention in Twitter…….. Don’t scary NF below 11600 next very strong support at 11120.
On Friday……. NiftyFuture was made a low of 11116.65 and closed at 11149.15.
On this week (02nd – 06th March) NiftyFuture where will take support & resistance ??
NF momentum indicator RSI which was already indicating a bearish divergence at two year’s low (RSI @ 23.89)
Now, NiftyFuture last week low at 11116……..is a major support
Suppose once if breaks and closes below 11116……… Expecting more weakness
Finding a next major supports 10675-10725. On 20th Sept 2019 rally 5.5% will be filled
Did you know ? Previous rally was 10700 to 12400 (After Corporate Tax Cut)
NiftyFuture resistance is seen at 11310, 11400 and 11550.
Thereafter will be move up to 11675…..(Expecting maximum rally)……. Stay caution!!
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Updated : 01.09 PM / 01st March 2020
