If the index manages to hold 26440-26450 then there may be some short covering move or recovery.
Midcap names saw sharp selling which led to negative momentum. Volatile move has led by formation of Doji pattern. Crucial to see how Nifty behaves around the support of 10550-10600 and if this range holds we may see some recovery. F&O expiry and Interim Budget would lead to some volatility in short term.
It will be important to see how Bank Nifty behaves around its 200 DMA. If the index manages to hold 26440-26450 then there may be some short covering move or recovery. There may be stock specific momentum in IT names. Recommend to trade with positive bias in IT names.Watch the video for moreThe Great Diwali Discount!
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