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Published on 9/02/2019 5:22:56 PM | Source: Religare Securities Ltd

Nifty managed to settle marginally higher and closed at 10943.60

Posted in Market Outlook| #Market Outlook #Religare Securities Ltd

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* Nifty managed to settle marginally higher and closed at 10943.60, tracking mixed cues. The bias was positive in first half of the week but selling pressure in the last two sessions pared the gains significantly.

* Technically, divergence between the benchmark index and broader markets is clearly denting the sentiment. And, in absence of any reversal signal, we advise keeping cautious view and preferring balanced approach in trading.

* Nifty has immediate support at 10,800 and its breakdown could trigger further fall. On upside, 11,100 is going to be a crucial hurdle. In short, we expect sideways bias to extend in the near future.

 

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