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Nifty on Monday formed a reasonable positive candle with a long lower shadow on the daily chart as it ended 94 points higher above the 19,140-mark.

Nifty on Thursday ended 265 points down to end the monthly F&O expiry day close to its 200-DMA at 18830 and formed a long bear candle on the daily chart. With three successive long bear candles, the index has now formed three black crows on the charts which signal more trouble in the short term

The short-term trend of Nifty continues to be negative. Having placed at long-term support at the lows, there is a possibility of a small upside bounce from near 19100-19000 levels. A breakdown of 19000 is likely to open the next downside of 18600 levels in the near term. Any upside bounce from here could find strong resistance around 19250-19350 levels, said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

The Nifty 50 fell 0.47% and ended below the 19,450 level, while the S&P BSE Sensex declined 0.44% to 65,226. Eleven of the 13 major sectoral indices logged losses, with index heavyweight banks falling 0.98%. Public-sector banks and realty lost 2.83% and 1.73%, respectively

/PRNewswire/ -- The India - flexible packaging market size is expected to grow by USD 18.65 billion from 2022 to 2027. In addition, the growth momentum of the...