Small Business

Tech view: Long term support within sight

After five days of relentless selling, any hopes of a change in fortunes yesterday were dismissed early in the morning, as bears took grip of the markets. Aggressive selling in auto, banking, metal and realty stocks saw the markets break one support level after another during the course of the day. The NSE Nifty tumbled to a low of 4,833, and finally settled with a loss of 155 points at 4,853.


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Overbought markets likely to stay range-bound
The Nifty faced strong resistance above 5,300 and closed in a Doji pattern, indicating indecisiveness among participants.
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