Fair chance Nifty could slide to 9,350

The Advance-Decline ratio has gone into negative territory for a few sessions

The trend has turned down but there's a lot of support at current levels. The Nifty has bounced from 9,500 but this is a critical level. If it drops below 9,450, it could slide till 9,350. The nervousness is now focussed on domestic issues like the GST rollout and the management of the NPA crisis. Of course, Brexit negotiations remain very much on the agenda and escalation of the Qatar crisis could hit energy markets. 
 
All institutions, domestic and FPIs, remained net buyers in June. Retail was also positive through the settlement. The trend would however be accounted negative