Nifty index traded extremely volatile in a broader range of roughly 600 points last week and settled with loss of over 3%.Selling pressure was witnessed across the board and it was further intensified on the last day which pushed bulls completely on the back foot.
Technically, indications are in favor of further fall in Nifty and possibility of re-testing 10900 is high while in case of bounce 11250-11400 would act as strong hurdles.
We advise traders to stay light and keep their derivatives positions hedged.
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