Nifty Weekly Analysis for Week starting 23 April

“The ability to accept the many ups and downs of the market is one of the most important skills a trader can have.”
This is an Apt one liner on what happened on Friday at 2:30 PM.  "Flash Crash" happened in NF

• The Nifty futures crashed over 300 points in afternoon trade, Nifty April futures plunged to a low of 5,000. A total of 51.49 lakh shares were traded between 2.25 pm-2.35 pm.
• Infosys April futures hit a low of Rs 1,950 at 10.45 am. 67250 Infosys got traded in which it made a low of 1950
• NSE Officials have denied that it was a fat finger effect or trading mistake by dealer.
• So it seems its another case of manipulation by Big Boys to cover up there shorts probably formed before the RBI policy
• Looser in the game were again the retail investor whose Stop losses and Short  Trades got executed at lower levels and they need to pay heavy price.

Nifty Hourly Chart

Nifty Hourly charts has formed double top at 5342 also 3 trend lines drawn are converging at a single point which signify good move is offing. Nifty has closed above its 50 Hourly SMA@5265

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