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During a last week’s trade, the Nifty Index made a decent recovery for the two consecutive sessions to touch 10200 levels after slipping below a psychological level of 10000.
However, the selling pressure towards the last trading session dragged the index below its 200-days EMA level and ended the fiscal year on a weak note. The index consolidated about 0.69 percent to close at 10113 levels and lost about 4 percent on monthly basis.
The index formed a bearish candlestick pattern on its daily price chart after slipping below 200-day EMA levels placed at 10200, indicating a truncated momentum.
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