See correction in short term, Nifty support at 6900-7000: CLSA

Additionally, it's worth noting head-and-shoulders topping pattern which supports a downside target of 6,900-7,000, Laurence Balanco, CLSA feels.

January 07, 2016 / 08:58 IST

Laurence Balanco, CLSA says the grinding downtrend that has unfolded off the March 2015 high remains dominant feature on Nifty's daily chart.

Additionally, it's worth noting head-and-shoulders topping pattern which supports a downside target of 6,900-7,000, he feels.

According to him, from a long-term perspective, this correction is seen as a partial retracement before long-term uptrend resumes.

first published: Jan 7, 2016 08:58 am

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