Street Signs: Bearish momentum may continue, the Zee-Sony trade & more

Bears tighten grip as Nifty breaches key support levels

After recording its fifth consecutive weekly close, the benchmark National Stock Exchange Nifty concluded its last session at 19,266, marking its lowest point in nearly two months. Technical analysts do not dismiss the possibility of a further decline in the index following its breach of key support levels. “The Nifty’s closure below the support level of 19,300 suggests that bears are likely to maintain an advantage heading into the monthly expiry next week. If 19,300 is not surpassed, there is a high probability of bears driving the index closer to the