April 4, 2020

NIFTY weekly charts

- trend is down
- this week, nifty failed to trade above last week's blue bar
- so we now have resistance around 9000 and
- support around 7500
- below 7500, next support is 6400 +/- 200 points

- this week, VIX dropped and
- AD improved
- this means selling may subside or bears are not comfortable with new trades

- so far a relief rally / retest of 10000 has not happened
- don't know if and when it will happen

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