NIFTY 50 Reports

Nifty 50   

                                                                                                                                                                                                                             

                 Nifty is Now trading near about  8745.45 which is bounced back from the levels  7832 The Indian market falls 37 percent in the past two months and in that mostly 30 percent fall in only 13-14 trading days of the last two weeks. its fastest bear market in the history of the Indian market more than 20% market fall in seven days of the span. Nifty falls from its high from 12430 to 7832. Now the next important support for the nifty is 7900 if this support is hit heavy then it opens the door for the level 6860.to 6300.      

                                        The situation of the market is now right is to sell on every raise with the resistance of 9200 if it sustains above the 9200 levels then we can say that the selling pressure is decrease above that level but it does not mean that the bull run starts from that level. after 9200 we can say the level near about 9750-9900 in very less trading days.

                                                    

                                     If the market is consolidating between  8500 to 9200 then it is a good sign of making the bottom rather than rise in one or two days and close above that level.

Some Reasons why market are fallen badly in 2020

1) The economic slowdown in India.

2) Global economic slowdown.

3)Pandemics of COVID-19

4) Banking NPA issue.

There are the monthly charts as shown in the picture below with the monthly support and resistance.