Summary
– In week gone by, Nifty was down by 1.3%. From past 3 weeks, Index is trading in the range of 17800 to 18300.
– On higher time frame, Index has negative development.
– So recent scenario can be considered as sideways to negative.
– Sustainability below 18300 can be considered as negative zone.
– Moving below 17800 can bring further selling pressure.
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