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Benchmark indices closed lower, dragged by banking and energy stocks whereas fertilizer stocks gained after the continuation of a government subsidy for urea.
Banking shares declined further after investigative agencies registered a fresh case relating to “fraudulent” issuance of Rs 9 crore of letters of undertaking to Chandri Papers and Allied Products by Punjab National Bank’s (PNB) Brady House branch.
Globally, stock markets across Asia dropped after US President Donald Trump sought to impose fresh tariffs on China, intensifying fears of a trade
Nifty has formed a Spinning Top followed by two consecutive reversal candlestick pattern around its strong supply zone of 10,480 levels suggesting lack of momentum on upside. On hourly scale, it is trading around its rising trendline.
Till Nifty holds 10,350 levels decisively, bounce back from lower levels cannot be ruled out and on higher end stiff hurdle seen around 10,490 marks. Moreover, Oscillators like RSI & MACD are in sell mode.
Banking shares declined further after investigative agencies registered a fresh case relating to “fraudulent” issuance of Rs 9 crore of letters of undertaking to Chandri Papers and Allied Products by Punjab National Bank’s (PNB) Brady House branch.
Globally, stock markets across Asia dropped after US President Donald Trump sought to impose fresh tariffs on China, intensifying fears of a trade
Nifty has formed a Spinning Top followed by two consecutive reversal candlestick pattern around its strong supply zone of 10,480 levels suggesting lack of momentum on upside. On hourly scale, it is trading around its rising trendline.
Till Nifty holds 10,350 levels decisively, bounce back from lower levels cannot be ruled out and on higher end stiff hurdle seen around 10,490 marks. Moreover, Oscillators like RSI & MACD are in sell mode.
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