HDFC Securities highlights that the move above 15030-15060 early next week could take the Nifty 15240 over the next few days
HDFC Securities says Indian benchmark equity indices ended lower for the fourth consecutive day on February 19 with selling seen across the sectors. After making an intra day high at 1030 Hrs, Nifty kept falling through the day, barring the recovery post 1500 Hrs. At close, the Nifty was down 137 points or 0.91% at 14982. For the week, the Nifty closed down 1.2%.
Nifty has corrected for four straight days after a sharp consistent rise seen over the past few weeks. The oscillators/indicators have now eased out of the overbought region: Reuters