“Bears remained at the helm, taking the benchmark Nifty about 190 points lower from the previous closing. On the 4-hourly chart, the index has given an upward consolidation breakdown; besides, the shorter moving average (21 EMA) finished the day lower than the longer moving average (50 EMA), confirming the bearish scenario,” Rupak De, Senior Technical Analyst at LKP Securities, said.Ahead of Market: 10 things that will decide D-St action on Thursday
“Bears remained at the helm, taking the benchmark Nifty about 190 points lower from the previous closing. On the 4-hourly chart, the index has given an upward consolidation breakdown; besides, the shorter moving average (21 EMA) finished the day lower than the longer moving average (50 EMA), confirming the bearish scenario,” Rupak De, Senior Technical Analyst at LKP Securities, said.