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Nifty 50|Nifty weekly update:9th-13th May,2022

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Nifty 50|Nifty weekly update

Nifty 50 continued to experience weakness as it followed global equity markets which are experiencing selling pressure. Last week Nifty lost around 4.2%. 

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Nifty 50|Nifty weekly update:9th-13th May,2022

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Nifty 50|Nifty weekly update

The Nifty has been in the weak phase since last month. The trendline shows the index forming lower-high and lower-lows indicating weakness.

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Nifty 50|Nifty weekly update

Last week’s fall was accompanied with heavy volume, so we expect the weakness to prevail unless buying happens with heavy volumes to counter the sellers.