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Trade setup: Nifty setup evidently bearish; stay highly stock-specific SECTIONS Share Synopsis It would be crucial for the Nifty to keep its head above the 100-DMA level, which is 14,486 on a closing basis. If there is a violation of this point on a closing basis, we may see incremental weakness. Getty Images The opening on Wednesday and the trajectory that the markets form will be crucial to decide the trend for the day. While refusing to take any directional cue, the Nifty again retraced from its resistance point and ended on a negative note while testing its crucial supports. Markets open...

During the week gone by, the market behaved in stark contrast to the behaviour seen in the previous week, as Nifty again scaled new highs and closed with robust gains. The previous week had seen the headline index decline tank 737 points. Over the past five days, the market gave a thumb-up to the Union Budget. All through these five session, Nifty witnessed a parabolic and vertical rise. The index tested the psychologically important 15,000 mark on Friday, as it hit a new intraday high of 15,014 before coming off from that point. The index ended the week on a very strong note with a net gain ...