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Street signs: Markets may correct for now, Heranba's GMP at 25%, and more

The fall in gold prices may be a boon for the gold ETF category, which has seen inflows of over Rs 1,000 crore in the past two months

Topics
Street Signs | Indian markets | Gold Prices

Samie Modak Ashley Coutinho & Sundar Sethuraman 

markets, stock market, sensex, correction, nifty, shares, growth, profit, economy, gain
Gold prices slipped below the crucial Rs 46,000 per 10 gm in the futures market on Friday, to hit an eight-month low amid a rise in the US

may correct for now

The benchmark indices have corrected for four straight days. If technical analysts are to be believed, the look poised to extend their losing streak. “A reasonable negative candle was formed with minor upper and lower shadow. Technically, this pattern indicates a continuation of weakness amid a range movement or volatility,” says Nagaraj Shetti, technical research analyst, HDFC Securities. The Nifty50 index on Friday ended 14,982. “A decisive move below 14,950 could result in more weakness down to 14,700-14,500 levels in the near term. Immediate resistance is placed at 15,115,” adds Shetti.

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First Published: Sun, February 21 2021. 20:22 IST
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