INSUBCONTINENT EXCLUSIVE:
NEW DELHI: The Nifty50 rose for the six consecutive session on Monday, but showed signs of fatigue as it formed a small bearish candle on
the daily chart for the second session
Analysts have neutral to positive stance on the index, for now
A small bodied negative candle was formed on Monday at the new swing high of 10,940, which indicates a choppy trend for the market, said
hurdle in the 10,850-900 zone, and it is not a good sign
The index settled 7 points, or 0.06 per cent higher at 10,883 for the day
Analysts said the modest closing gains poured water on expectations of a rally amid strong 1-3 per cent gains clocked by Asian markets
Yet, there was no sign of weakness, said Sameet Chavan of Angel Broking, who still feels Nifty is headed towards the 10,940-11,000
Some analysts, though, have turned cautious
its 200-day moving average placed at 10,746, he said, adding that traders could adopt a neutral stance on the market for a couple of days.
