“R.I.P” Bullish Trends
Bank Nifty continues to highlight the strong underlying bearish momentum that seems to scare away any bullish tendencies at the moment. With a trend so bleak the market has been rewarding all participants who have been on the sell side. Choppy market conditions shall definitely emerge with markets attempting to stabilise next week.
Truncated week ahead could pose problem to the Nifty that can make heavy weather to maintain itself above 14400. Nifty continues to react from higher levels suggesting that there is still some room to move higher. The sharp decline in Bank Nifty kept the momentum to the downside as Private and PSU banks saw a steady downward traction as sentiment turned bearish. The outlook for the next week hangs in balance as markets continue to negotiate the domestic as well as global developments.
Truncated week ahead could pose problem to the Nifty that can make heavy weather to maintain itself above 14400. Nifty continues to react from higher levels suggesting that there is still some room to move higher. The sharp decline in Bank Nifty kept the momentum to the downside as Private and PSU banks saw a steady downward traction as sentiment turned bearish. The outlook for the next week hangs in balance as markets continue to negotiate the domestic as well as global developments.
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