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With Thursday’s price action, Nifty is likely to be bearish and test lower levels of 11570-11550
Updated : Apr 26, 2019, 05:40 AM IST
It is a range-bound market that is oscillating in 250-odd points. With Thursday's price action, Nifty is likely to be bearish and test lower levels of 11570-11550.
Axis Bank, YES Bank, UltraTech, Grasim, Bharti Infratel should remain in limelight.
Financials, energy, consumer, non-cyclical should have a higher impact.
A range-bound market needs a breakout. An upside breakout above 11850 would mean trend continuation to 11990-12050 while downside with close below 11550 should signal an intermediate correction.
It was an expiry day. Hence, it was writers who reaped out of falling premiums and carved the volatility in their favour.
Mustafa Nadeem, CEO, Epic Research