Nifty Weekly Techncial Analysis for Week begining 19 Dec

If you have to panic, panic early because in market eventually everyone panics.
Reason: The pain just becomes unbearable and the fear of unknown forces one to get panicked.
Looking at the waterfall decline on Friday sessions the screen is just telling me that may be that’s what seems to be happening as Nifty made a new 52 week low and closed below 4675 which was 2010 low.

Nifty Hourly

On Hourly charts Nifty sold of 200 points in matter of 90 mins which is quiet surprising and disappointing close.RBI has kept rates on Hold and INR came down sharply from highs of 54 but nifty choose to make a new 52 week low. Technical structure of market has been considerably weaken after yesterdays close and took many people by surprise the intensity and rapidity of fall.
But as Traders you should be prepared ...

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Bramesh
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