Nifty: Trade Setup: Nifty's RSI against that of Nifty500 hit

Nifty: Trade Setup: Nifty's RSI against that of Nifty500 hits new low. Avoid high-beta stocks


In a disappointing session, Nifty slipped below its immediate key support and ended Wednesday’s session on a negative note. The market opened lower on the anticipated lines and stayed in the negative territory throughout the day. The opening level became the high point of the day, as the index spent the first half of the session trading with limited losses.
While Nifty failed to recover beyond a point, the market came under intense corrective pressure the second half of the session. It went on to test the day’s lowest point before finally ending the day with a net loss of 154 points, or 1.04 per cent.

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