By Sabari Saran
NEW DELHI: Asian markets extended losses on Thursday, perpetuating the weak sentiment from the US tech rout. But mild gains in US stock at the opening tick later in the day held out promise for Friday’s session on Dalal Street, which was shut on Thursday for a public holiday.
Nifty slipped 1 per cent on Wednesday, and in the process, formed a Bearish Belt Hold pattern on the daily chart. Analysts said the 50-pack is facing a stiff hurdle on the higher side, especially in the 14,900-15,000 zone.
“Only a close above the 15,000 mark can activate the overall bullish stream. Otherwise, we may again see selling pressure at higher levels. Support can be seen near the 14,775-14,700 zone,” said Rohit Singre, Senior Technical Analyst at LKP Securities.