May 9, 2020

NIFTY weekly charts

- trend is down on daily charts
- we had 4 consecutive weeks of higher high and higher low
- last week's bar was 8%
- this week opening was 4% down

- this week ended with 6% in negative
- lower high lower low formed

- very strong swing high formed around 9900-10000
- we have support around 9000
- this also happens to be 2015 and 2016 swing high
- once this breaks, new lows possible

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