Motilal Oswal Financial Services says Nifty weakness seen at 14600-14500-range, upside hurdles shift lower to 14950-15050
Motilal Oswal highlights that Indian equity market opened positive but soon drifted into red and fell sharply by late afternoon yesterday. Nifty plunged 189 points (-1.3%) in the last session to close at 14721 while Sensex fell 562 points (-1.1%) to end below the 50000 mark at 49802. The broader markets fell more sharply with Nifty MidCap 100/Nifty SmallCap 100 down -2.5%/-2.2%.
Nifty formed a strong Bearish candle on a daily scale. Now, till it remains below 14900, weakness could be seen towards 14600-14500 while on the upside hurdles shift lower to 14950-15050: Reuters