NIFTY
Well NIFTY after shaking out every one with immersive downfall. But if you see at last weeks candle we can see there is something still left, NIFTY fall sharply last week to but on Friday after hitting a lower circuit shows good recovery, but this recovery is not indicating any confirmation of Index bottom out or change of trend because what happened on Friday is short covering and trapped intraday sellers were covering there positions and hence index managed to close on top.
9th March weekly candle indicates that market movers not able to make any decision and close in the middle. High of the same candle which is 10751 will act as resistance to coming weeks or months and Low of 8555 will be the support. So its a big range we are talking about and so the big passions are going to be made in same area before market decides further trend.
We are going to see worst time for market in year 2020 where Lower Highs And Lower Low Going To form.
The only thing I can suggest here is to not take any long term position in Indexes or Stocks until market settles down. Keep trading in short term and don't keep any positions open unless you are 100% sure of it.
