INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Nifty tested its 200-day exponential moving average (EMA) on Saturday, as it cracked below the 11,700 level in a response to
The ongoing correction may continue towards the 11,500 level
Any bounce towards the 11,750-11,830 zone could be sold again
Traders should refrain from bottom fishing at current levels and wait for data to signal a trend reversal as short- as well as medium-term
It slumped 300 points, or 2.51 per cent, to 11,661
The 200-day EMA stood at 11,654.
Mazhar Mohammad of Chartviewindia.in said any consolidation cannot be ruled out on Monday
said.
This analyst said if Nifty falls below 11,633, it will have the next logical target at 11,342.