INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Nifty50 tanked 2 per cent on Thursday, taking its losing streak into fourth straight session
That said, the index staged an intraday rebound and closed above the opening level
In the process, the index formed a bullish candle on the daily chart.
Analysts said levels in the 7,800-8,000 zone may offer some support to
The NSE barometer may face resistance around its recent swing low of 8,555, they said.
For the day, the index fell 205 points, or 2.42 per
Once we see a close above this level, there could be a relief rally
Supports for the index stand in the 8,000-7,800 zone, said Rohit Singre, Senior Technical Analyst at LKP Securities.
Nifty seems to be
headed for consolidation, provided it sustains above the 7,832 mark for at least next couple of days, said Mazhar Mohammad, Chief Strategist