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BUSINESS
We expect selling pressure to continue with lower levels of 11750-11770 as an intermediate target/support
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Updated : May 30, 2019, 05:45 AM IST
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It is likely to be a squeeze play with bearish undertone as it is expiry and further there is a weakness in breadth. We expect selling pressure to continue with lower levels of 11750-11770 as an intermediate target/support.
Coal India, SAIL, ONGC, SBI, Tata Motors.
Energy, PSU, Metal and IT.
The breakout wasn't decisive as it turned out to be yet another failed one. This seems to be the distribution for lower levels of 11750-11710.
Negative global cues along with the failure of Nifty to hold 11900. Heightened volatility further panicked the sentiments and profit booking was the outcome.
Mustafa Nadeem, CEO, Epic Research
