Street signs: Mkts to feel selling pressure, Adani Enterprises stock & more

Poor Nifty debut week for Adani Ent Shares of Adani Enterprises are down nearly 6 per cent since September 30, the day it got added to the Nifty50 index

Markets may feel selling pressure

The Nifty50 managed to eke out a 1.3 per cent gain last week to close at 17,315. The sell-off in US equities following strong jobs data is expected to put pressure on the markets on Monday. Technical analysts say strong support for the Nifty50 is placed around 17,200. “Traders should avoid taking aggressive long positions and rather be very stock-specific and have a cautious approach. The options data hints at a broad range of 17,000-17,500 for the coming week; a breakout beyond this range can then lead to a trended move in the direction of