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Nifty Weekly Analysis, After Market Crash

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Updated On:

The Nifty ended the previous week with 1034 points loss. In the last week, the market witnessed the biggest Stock Market Crash in history.

We already discussed at the starting of the month about such moves, As many Nifty  ‘Time Cycles’ will end their critical points during the ‘March Month.’

Nifty Weekly Chart

Now moving ahead, we may see some relief rally from here. The last week low in Nifty Index reached the critical point in the ‘Time & Price Structure’ of the market.

If I follow one of my Private Nifty ‘Time Cycle’ calculation, which had yielded outstanding results in the past, then we may see some bottom formation. It can be for Short-to-medium term, which will analyze later after some more advances.

Nifty Weekly Trading View

Will Market Hold

The Green Angle Support Line?

On the monthly chart, also, the market has reached the critical spot. It moved from the upper angle to the lower side projection. 

It will be quite interesting to see the ‘Price Action’ near to this angled line.

In the forthcoming week, 19 March is the critical date.

Nifty Weekly Trading Levels

Next week 10200 will act as Resistance above, which moves towards 10300/10500/10850 can be seen.

While Support is likely to come at 9850 below, that move towards 9750/9650/9300 can be seen.

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About the Author

Divesh Jotwani is a Full-time trader in the Indian stock market. He has spent over 20+ years researching and discovering WD Gann's methods and applying them day in and out markets.