Nifty is nearing the 200 moving average on weekly chart which is at 10300. Historically this has been a strong support zone. After Nifty broke the 100 moving average on weekly chart, it has been in the bear territory. If the 200 moving average is broken (happened in 2008) then it will fall into the recession territory.
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Not taking any long or short view due to global fear. Trade with caution.