In today’s session, index opened marginally in green and traded sideways between 5620-5650 level for most part of the session. It witnessed breakdown from that range in last hour of the trade due to vertical decline from 5650 to 5565 level. Finally, it lost close to a percent with dramatic shift in market breadth on negative side. As we have mentioned in our yesterday’s newsletter that
Nifty has tested the lower trend line of rising channel and today it slipped below the same so one should be cautious for the next session as sustainability below the band may extend the decline to 5475-5450 level in near term.
Nifty has tested the lower trend line of rising channel and today it slipped below the same so one should be cautious for the next session as sustainability below the band may extend the decline to 5475-5450 level in near term.
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