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Street Signs: 'Buy the dip' strategy, health care stocks gain, and more

With foreign flows turning negative and global markets on tenterhooks, it remains to be seen if investors will continue to 'buy the dip'

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The Nifty on Friday dropped nearly 2 per cent since bottoming out in June (Photo: Bloomberg)

Sundar SethuramanSamie Modak
Will ‘buy the dip’ persist? Wait and see
 
The Nifty on Friday dropped nearly 2 per cent since bottoming out in June. The index dropped 347 points to finish at 17,531. In recent weeks, traders have used any weakness in stocks as a buying opportunity. With foreign flows turning negative and global markets on tenterhooks, it remains to be seen if investors will continue to ‘buy the dip’. “The 14-day relative strength index has developed a lower top, suggesting that momentum is slowing down. The high degree of immediate support is set at about 17,000 levels. Before making strong long

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First Published: Sep 19 2022 | 6:15 AM IST

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