Nifty Weekly Technical Outlook for 19th Aug, 2013

Bank Nifty Daily Chart

Bank Nifty Daily Chart

Nifty Daily Chart

Nifty Daily Chart

Truly Black Friday.

Market witnessed one of the most enthralling day, almost after four years time gap. Yes, you read it rightly, Nifty made such move after long time gap. 2007, 2008 and 2009 were the years, where we witnessed some razor sharp and brutal move, where initially in 2007 market was in pure Bull Euphoria and we still remember it was a time when there was huge participation in the market from even common man also.  After which 2008 was a big lesson for all, and 2009 rally proved to be big surprise for many traders, and rest all years, including current year, proved to be one of the challenging years, like 2000 to 2003. This year’s gives some fruitful lessons to traders and subsequent euphoria works as eraser for this lessons.

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