Nifty forming Broadening Formation
NIfty-50 under pressure and closed under 21 & 50 days Ema, if this pattern is to be held true then one may expect downfall below 143420-14390 levels before 10th March following which crucial support will be 14270 and 14000. Further, added global cues might decide the short term range but market to remain volatile due to:
*Rising restrictions due to Covid-19 and borders closure
*Partial sell off by FIIs- Positive US employment data and negative Emerging Markets outlook
*Upcoming RBI meeting
- Negative/ Below Satisfactory Manufacturing data
*Rising restrictions due to Covid-19 and borders closure
*Partial sell off by FIIs- Positive US employment data and negative Emerging Markets outlook
*Upcoming RBI meeting
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.