Tuesday, 23 May 2017

Nifty Likely To Retest 9400; 3 Stocks Which Are Likely To Give Up To 4% Return This Week

The market witnessed gap-up opening on Monday’s trading session but traded gradually sideways to downside throughout the entire session leaving some more room for downside pressure on Tuesday.

The market is facing some consolidation on the higher levels and will likely build up some selling pressure for the near future. Although, 20-days moving average is still supporting the market but MACD has generated fresh selling signals on the daily charts that might remain intact in the coming session and bring some downside movement.

The Nifty is likely to touch lower levels near 9,400-9,390 in the next trading session where a close below could prove even worse for the near term.

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