Global macro-economic factors will continue to cast a shadow on domestic equities.
The RSI on the daily chart stood at 26.5319 and it now trades in the oversold zone.
Thursday is likely to see levels of 10,495 and 10,560 acting as immediate resistance area.
The RSI on the daily chart is 22.4701 and it remains in the highly oversold area.
Tuesday is likely to see levels of 10,400 and 10,465 acting as immediate resistance area.
As much as 42L shares were added by Nifty in OI. PCR has dropped into the oversold territory.
For the major part of the week, adverse global macro-economic factors caused weakness in the market.
Maintain a cautious outlook on the market and avoid fresh overexposure on either side.
Expect the levels of 10,910 and 10,975 to act as immediate resistance zone for the Nifty50.
The levels of 11,043 and 11,095 are likely to act as immediate resistance area for Nifty.
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