INSUBCONTINENT EXCLUSIVE:
NEW DELHI: The bulls failed to push the Nifty50 above its immediate resistance at 10,290 on Tuesday, giving the bears a chance to regain
The index slipped below the 10,200 mark to form a small bearish candle, which resembled a Spinning Top on the daily chart
Technical Analyst at Sharekhan said the 38.2 per cent retracement of the recent fall i.e
This means the index is likely to remain under pressure and any minor bounceback is likely to get sold into
The hurdle zone has shifted lower to 10,360-10,400 range
On the downside, Nifty looks poised to test its crucial support in the 10,000-9,952 zone with the possibility of breaching it and heading
towards the 10,280 level.
Mazhar Mohammad of Chartviewindia.in advised investors to maintain a neutral stance on the index for the time
being unless it decisively gets past the 10,290 mark.
The current weakness is not threatening the short-term bottom reversal of the market
so far, said Nagaraj Shetti of HDFC Securities.
