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The D-Street witnessed a volatile day as the index moved in a band of over 200-points on throughout the trading session on Thursday which led to a formation of a ‘High Wave’ kind of pattern on the daily candlestick charts.
The government reverted to fiscal consolidation roadmap with a target of 3.3 percent for 2018-2019 which was still higher than the analyst estimate of 3.2 percent.
The Nifty which opened at 11,044 which rose to an intraday high of 11,117.35. But, bears took control of D-Street and pushed the index below 13-DEMA to touch its intraday low of 10,878. The index closed near its 5-DEMA at 11,016, down 10 points.
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