Nifty Weekly Technical Analysis

Nifty Weekly Chart
Market started the new “samvat” on negative note as benchmark indices plunged nearly 4% in the week gone by, their highest weekly loss in more than 6 months. This was disappointing specially in the light of last week’s hefty 5% rise, which took the benchmark indices very near to the 2008 highs and expectation was that this week we will see fresh all- time high. The week was marked by extreme weakness and dominance of bears, as Nifty closed in red on 4 out of 5 trading sessions. …
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