FII action, Waaree Energies IPO listing and 5 more factors that will steer D-Street this week
On Friday, Nifty closed at 24,180.80, lower by 218.60 points or 0.9%.
Commenting on the current trends, Rajesh Bhosale, Equity Technical Analyst at Angel One, stated that it was a challenging week for investors and traders, as the markets experienced a broad-based sell-off throughout, with Nifty dipping below 24,200 after two weeks of consolidation. October has been particularly tough, with the benchmark down more than 6% so far, he added.
«While the daily chart may not fully capture the depth of this move, the weekly and monthly charts have shown significant distortion, suggesting potential further price corrections, followed by a possible period of time-wise correction,» Bhosale said, adding that it will be crucial to see whether market sentiment rebounds or continues under pressure as we approach a festive week.
Factors that are likely to impact movement when market opens this week:
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