The benchmark index was unable to surmount the stiff resistance of 8330 and so very much in expected lines it slid back into the bear grip as we had already stated in our previous post, with a glimmer of hope for bulls being totally washed out.
So back we are from where we began and once again we reiterate, like we did in our weekly post that now that the support of 8143 is breached and unless it manages to stay above the support of 8070, fresh selling will emerge taking Nifty down towards 7882.
Traders may trade accordingly.
Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader.
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