This week’s closing is sending tremors as it ended by a Doji formation ( see zoomed view). NIFTY , couldn’t make its weekly close above 5950, and there is a high chance that, a fierce selling starts right from the tomorrow. In such a case, we might see NIFTY taking breath only at around 4600 by second week of May( the other areas where NIFTY resisted at around 4600 is marked by arrows).
I would advise all the readers, to exit the Cash positions with immediate effect. No one is going to stop you to buy back your favorite stocks, if it Close above 5950.
This analysis will be invalid, if NIFTY goes for a weekly close above 5950. Pl read the disclaimer and make sure you consult your Broker, before taking any Buy/ sell decision.
Disclaimer: The views expressed herein are to be used with your own discretion and neither analyst nor the publisher will be responsible for the outcome.
