Abhijit_Paul

Abhijit_Paul

Nifty loses momentum after losing some grounds in yesterday’s session. The underlying trend is UP but its the momentum which is slipping back. 12,000 stays as the important psychological resistance for the market. On the downside, a slip below yesterday’s low of 11,916 can lead to fresh weakness in the index.

Abhijit_Paul

Nifty consolidates the recent 2-day sharp sell-off with a flattish close in the last trading session. The underlying trend is still very much UP and we did not have any confirmed sell setup at the top when the index was trading above 12,000. The underlying momentum has slowed down a bit which gives an opportunity to buy-on-dips strategies. Strategically, it is...