Nifty Failed at crucial Supports! Next support 5150 / 4800

Nifty Daily

Given the strong capitulation across the globe and failure of Nifty to find supports at crucial levels indicates extreme weakness.

The trend now remains firmly down, next support levels coming in at 5150 and 4800!

As long as today's gap near 5330 is not filled one cannot expect any bullish setup. Only if Nifty manages to move above 5330 the trend might turn positive but that looks very low probability as of now

Volatility is going to increase in either direction and movements are going to be steep. We want our readers to exhibit caution and have alternate scenarios in place in case market moves in opposite direction than anticipated.