Nifty Tips
Nifty made an another dip and extended losses for the third straight day. The disappointing IIP data for the month of October led the market to the downside and S&p CNX Nifty closed at 4764 after declining 2.10%. Nifty futures settled at 4769 and lost 116.90 points.
Nifty has breached the psychological level of 4800 and this may result in severe bearishness in the market. Inability to sustain above 4750 would call for another major sell off and Market may extend its bearish trend. While above the level of 4800 Nifty can witness intraday pullback. Major resistance which can decide the bullish momentum is seems to be 4920 while it has nearest downside support at 4750 level.
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Nifty has breached the psychological level of 4800 and this may result in severe bearishness in the market. Inability to sustain above 4750 would call for another major sell off and Market may extend its bearish trend. While above the level of 4800 Nifty can witness intraday pullback. Major resistance which can decide the bullish momentum is seems to be 4920 while it has nearest downside support at 4750 level.
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