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With unlikely directional visibility, we continue to maintain a rangebound trade for the upcoming session at 10,420 levels on upside and 10,095 levels on the downside.The volatility regime in the Indian equity market continued to surface on the backdrop of political turmoil back home and weak cues from the global counterpart.
The Nifty50 index witnessed a sustained selling at a higher level as it lost ground to bears, and breached below its crucial weekly support placed at 10,200 levels.
The index closed the session on a weak note at 10,195 levels on Friday. The index continued to form a bearish candlestick pattern on its price chart for the second consecutive session in a row after breaching crucial level placed near 100-day EMA indicating a weak trajectory.
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