Nifty is continuing the formation of a bear flag (marked green) which is indicating weakness in near term. Nifty opened, tried to cover the gap but closed below previous close. Overall, bearish bias is there in index. In case of another drop, 16740 is a level of mathematical significance.
To undo this, nifty has to give a convincing closing above 18197. Till then, stay stock specific. Avoid intraday options in index.
Fiis have been selling heavily. Which is responsible for all this negativity
To undo this, nifty has to give a convincing closing above 18197. Till then, stay stock specific. Avoid intraday options in index.
Fiis have been selling heavily. Which is responsible for all this negativity
