INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Nifty50 fell below the 12,000 level on Tuesday and formed a bearish candle on the daily chart
In the process, the index closed below the 12,004 mark, which was its 13-day moving average.
Market breadth was weak and Tuesday was the
third straight session when the index made a lower high
However, it is hovering around lower end of a Rising Channel
Momentum oscillator RSI indicated a negative divergence on the daily chart
said.
For the day, Nifty declined 54 points, or 0.45 per cent, to 11,994
however, is possible before it tumbles further
The neckline, which is near the 12,025 mark, can trigger fresh selling
On the downside, the junction of the 40-DEMA and the daily lower Bollinger Band i.e