Technical Analyst, Mohit Gaba:
The Nifty had a bit of a down day on Monday; the Bank Nifty led the Nifty lower with the CNX IT also contributing. By now long positions should be lightened and if we break below 6200 then all longs should be squared off.
The banking pack is set up well for a move lower and hence we could move a few hundred points lower on the index.
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!
