Pre-market action: Here's the trade setup for today's session
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓The Nifty extended its losing run to an eighth straight week with a 3.1% weekly decline.
- ✓Indian equities remain under pressure as foreign investors sold shares worth Rs 9,484 crore on Thursday.
- ✓Meanwhile, the India VIX rose 0.5% to 13.49, and the rupee fell to a two-month low today.
Story at a Glance
- Category
- MARKET
- Reported By
- The Economic Times
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
The Nifty extended its losing run to an eighth straight week with a 3.1% weekly decline. Analysts say Indian equities are likely to stay under pressure in the near term as a record global bond rout, renewed strength in crude and the heaviest foreign selling in six months weigh on sentiment.
STATE OF THE MARKETS
Tech View: Technically, Nifty continues to remain in a weak corrective structure, with the index trading well below the 50-Week EMA around 24,146. However, the 200-Week EMA at 22,380.81 provided an important cushion, and the weekly close remained marginally above this long-term moving average. A sustained hold above this level could lead to some consolidation or technical recovery, while a decisive breakdown could increase downside pressure.
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The Economic Times
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