NIFTY - BULLS SLOPE AND HOPE?

Feb 8, 2022

Nifty bulls lost the plot very badly. Even the most optimistic bears would not have expected the kind of selling and fall witnessed yesterday. What happens on Monday rules the week. The cues continue to be negative and does not appear as on off event. Market now would look the RBI Monetary Policy (where few or no options expected to support the equity as the war globally is inflation and not equity). Bulls last hope is 17050 (on Close basis) where as bears are safer below 17400 and any break below 17000 they stare sub 16000. After the fall lower level consolidation is what one can look for . 16950-17350 should work.