11,250 will be important for bulls if they have to regain control of D-Street. A break below this level could take the index towards 200-DMA placed at 11,020 levels, suggest.
Indian market bounced back from its 100-days exponential moving average (EMA) for the second consecutive day in a row on Friday but failed to reverse losses and closed with a bearish candle on the daily charts for the 8th consecutive day in a row.
The Nifty50 for the week closed 3.7 percent lower. The broader market outperformed as the Nifty Midcap index gained 0.47 percent while the Nifty Smallcap index rose 0.57 percent.
In terms of market capitalisation, investors lost nearly Rs 5 lakh crore during this week. The average market-capitalisation of BSE-listed companies fell from Rs 151.62 lakh crore on May 3 to Rs 146.51 lakh crore on May 10.
Going forward, 11,250 will be important for bulls if they have to regain control of D-Street. A break below this level could take the index towards 200-DMA placed at 11,020 levels, suggest experts.
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