April 10, 2020

NIFTY weekly charts

- trend is down
- this week nifty gained 13%
- this was also the first higher high higher low bar formation
- 2-3 such bars are common in any correction

- 10000, which was a very good support, should be tested again as a resistance
- I don't know if this will happen

- note index has not closed below 8000 on closing basis
- this is also the first weekly close above 9000 after 3-4 weeks

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