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“Nifty is showing signs of near-term bearishness as it forms a Double Top pattern on the daily chart, coupled with a bearish engulfing candle. This suggests a sell-on-rise approach in the market,” says this expert.
The BSE Sensex on Friday fell 732 points to close at 73,878 due to profit booking by investors.Vinod Nair, Head of Research, Geojit Financial Services said profit booking and a degree of caution ahead of the release of the US non-farm payroll ...
Share market: Friday's market fall came ahead of the release of the US non-farm payroll data. Investors booked profit and there was a degree of caution, said Vinod Nair, Head of Research, Geojit Financial Services.
Technically, the index closed below the level of 22,500, which has been acting as a minor support for the last couple of days. While this is a negative development, its not something that opens a big downside, observed an expert.
SBI and ICICI Bank witnessed some buying while selling pressure was seen in Bank of Baroda, PNB, Bandhan Bank, and Kotak Mahindra Bank which fell over 1% each.