Ahead of Market: 12 things that will decide stock action on Tuesday
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Ajit Mishra, VP - Research at Religare Broking said, Nifty has tested the lower band of the prevailing rising broadening formation around 13,150 and its breakdown could trigger a further decline towards the 12,700-12,800 zone. In case of a rebound, the 13,400-13,600 zone would act as a hurdle.
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We do not expect a big correction, but rather a consolidation in the short term, of not more than 7% to 10% in the main indices. Buying at dips can be considered as a strategy in the falling market, said Vinod Nair, Head of Research at Geojit Financial services.
Ahead of Market: 12 things that will decide stock action on Monday
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As many as 200 stocks on the BSE 500 index settled the day in green, while 296 settled the day in red.
NEW DELHI: Nifty formed an indecisive candle on the daily chart on Friday after it closed on a positive note for the seventh consecutive week.
Shrikant Chouhan, Executive Vice President, Equity Technical Research, Kotak Securities, said, For the next few trading sessions, 13,650 should be the sacrosanct level for the trend following traders. Above the same, we can expect an uptrend continuation wave up to 13,935-14,000. On the flip side, dismissal of 13,650 could possibly trigger one quick correction leg till 13,500.
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