Bearish signals have eased

The current trend-following signals mostly suggest selling Nifty with a stop-loss at 9,975 or 10,000

Devangshu Datta 

The market has range traded for the past few sessions. The Nifty has stayed above the recent low of 9,685 (August 11). It has not been able to break out above resistance between 9,925 and 9,950. A move beyond those limits could mean a test of support at 9,450-9,500 or a target of 10,200 (a new high). There's been alternating sessions of gain and loss. But, the VIX has eased down and other bearish signals have also eased off. The advance-decline ratio is positive.   It's possible that this is a pause within an intermediate downtrend. A break below 9,685 would confirm a pattern ...

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First Published: Thu, August 31 2017. 00:49 IST