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Commerce Setup | Nifty50 holds 16,200 however will not be out of the woods but
The 50-scrip index has lastly damaged the important thing assist at 16,300-16,260 ranges on a closing foundation, negating the minor upward development that emerged final week after it surpassed 16,400, Sameet Chavan, Chief Analyst-Technical and Derivatives at Angel One, tells CNBCTV18.com.
The market is unable to point out power at increased ranges, although it’s not considerably weak, he says.
“We might quite reassess the scenario within the first half of this week with all eyes on essential ranges like 16,000 on the decrease facet and 16,400 on the upside. The pragmatic technique can be to remain mild on positions… We’re nonetheless hopeful of some restoration in coming days. If this has to occur, US markets want to supply that a lot wanted aid,” Chavan provides. (Read more)
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