Nifty formed a bearish belt hold and on daily charts, it formed a significant bearish candlestick pattern. Trade with extreme caution in the coming week on account of outcome of state elections on Dec 11.
Moneycontrol News
@moneycontrolcom
Markets touched a high of 10941 for the week and touched low of 10588 breaching the 200 DMA of 10740, down 2.4 percent for the week.
RBI did signal a dovish sentiment for the Indian economy in the coming few months, however, there has been no rate cut which led to disappointment in markets.
Pharma and auto did not do well, corrected by 4.4 percent while IT up 1.5 percent and realty which was up by 1 percent did well.
Nifty formed a bearish belt hold and on daily charts, it formed a significant bearish candlestick pattern. Trade with extreme caution in the coming week on account of outcome of state elections on Dec 11.
Resistance is at 10880 and support is at 10440. Market is expected to trade sideways to negative in coming week.
First Published on Dec 7, 2018 01:47 pm
