The markets have been very volatile since the start of the new year and have wiped out all the gains made in late December. FIIs have been net sellers in the month to date, on account of the domestic headwinds India faces with hardening interest rates and spiralling inflation.
Over the past week or so, the 5700 level on the Nifty has emerged as a key support zone. The level has been severely tested on more than three occasions, which according to experts, is weakening the core structure of the Nifty. K Anant Rao, Kurtosis Analytics & Advisors says, 5,700 to 5,750 range has been visited at least five times now, in the last 40 odd days.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
