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Nifty : Nifty made double top near 10150 on daily as well as weekly charts & corrected sharply due to increasing global tension. Nifty after retracing from 10178 to 9687 find some support & closed week at 9788 with recovery of almost 100 bucks from lower level. Now what to do? Have a look at daily & weekly charts:
Weekly Chart
When you analyse weekly chart it's clearly visible that technical indicators are still in sell mode & indicating further downside, however as per trendline study Nifty took support during the week and can move further up towards 9960-9999 & this can be a good profit booking range . If Nifty fails to sustain at current levels & breaches 9650 it can test 9550-9440-9310 sharply.
Daily Chart:
As per daily charts Nifty above 9815 can test 9980. 100dMA 9775 will work as support & below that retest of 9690 can't be ruled out.Technical indicators on daily charts are indicating upside before any fresh selling in markets
