Stock picks of the day: Nifty could drift towards 11,300-11,200 over the short term
Episode 1169, May 09, 2019, 02:00 AM
The Nifty index failed to hold on to crucial support levels placed at 11400 levels on Wednesday and closed with a loss of nearly 140 points.
The Nifty has broken the trading range on the lower end which signifies a strengthening bears.
The breakdown of the trading range is likely to create sell on the rise kind of market where the previous support zone of 11600-11650 is expected to act as a resistance zone.
On the lower end the Nifty may drift down towards 11300-11200 over the short term.