The already weak indicators are now turning weaker and suggesting a further move downward to 2635 - 2575 levels in the coming days.
Consider 2760 and 2790 as the crucial resistance level in any corrective upmove.
Index heavweights like State bank, Reliance and Larsen are at crucial support levels and if these break , it will further push the indices downward.
The world indices like Dow , FTSE, Hang Seng and Nikkie are all already in strong sell mode and may have a cascading effect on our markets!
CA Rajiv D Khatlawala
Head of Research and Training
Jhaveri Securities Ltd.
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