Nifty EOD Mar 27,2020

As I mentioned in the last post "Nifty may face strong resistance in 8900-9000 zone", Nifty reversed from 9040 and closed at 8660. That's 380 points move from the top. This was classical "Buy on Rumors and Sell on News". The market was expecting Govt stimulus and RBI rate cut. Now, this is done, we may see further correction in the following days and Nifty may go towards 6800-6300 where a bottom likely get formed.
In case it moves on the upside then above 9100 it may face stiff resistance at 9400/9410

The hourly chart shows support at 8450-8250 zone.

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