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Long-term continues to look bearish

The market is clinging to support above the 8,000 mark and hitting resistance above 8,150

Devangshu Datta 

The market is clinging to support above the 8,000 mark and hitting resistance above 8,150. This narrow range is liable to be broken by news flow. That could come out of the US where there is still political uncertainty and a mid-month Fed review. It could come out of India with further developments on the currency crunch. The long-term continues to look bearish. The 200-DMA is at about 8,150, where there appears to be strong resistance. A breakout or breakdown could take the index till either 8,450-8,500 or till 7,800. A drop below 7,915 would emphasise bearish patterns with lower ...

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Long-term continues to look bearish

The market is clinging to support above the 8,000 mark and hitting resistance above 8,150

The market is clinging to support above the 8,000 mark and hitting resistance above 8,150 The market is clinging to support above the 8,000 mark and hitting resistance above 8,150. This narrow range is liable to be broken by news flow. That could come out of the US where there is still political uncertainty and a mid-month Fed review. It could come out of India with further developments on the currency crunch. The long-term continues to look bearish. The 200-DMA is at about 8,150, where there appears to be strong resistance. A breakout or breakdown could take the index till either 8,450-8,500 or till 7,800. A drop below 7,915 would emphasise bearish patterns with lower ... image
Business Standard
177 22

Long-term continues to look bearish

The market is clinging to support above the 8,000 mark and hitting resistance above 8,150

The market is clinging to support above the 8,000 mark and hitting resistance above 8,150. This narrow range is liable to be broken by news flow. That could come out of the US where there is still political uncertainty and a mid-month Fed review. It could come out of India with further developments on the currency crunch. The long-term continues to look bearish. The 200-DMA is at about 8,150, where there appears to be strong resistance. A breakout or breakdown could take the index till either 8,450-8,500 or till 7,800. A drop below 7,915 would emphasise bearish patterns with lower ...

image
Business Standard
177 22

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