NIFTY Daily Analysis

• Pattern breakdowns from weekly time frame can give explosive moves. That's what we are witnessing. 
• In weekly chart price is moving down from 23.6% Fib level to 38.6% Level.
• It will be difficult to predict a bottom for this move. Next likely level may be between 4775 - 4800 level. 
• Those bears who are about to get good profits should book some profits. Since price is falling fast we are likely to see quick up moves as well.
• We Saw one of the worst days in Wall street's history as far as points goes yesterday night. Dow Closed 634 points down which was the 6th worst day in its history. See the EOD analysis for S&P 500 in the below link.
• S&P 500 ANALYSIS AFTER CLOSING BELL