Nifty View: A day of consolidation for the benchmark Nifty, as the index slipped significantly from its opening high of 18,088 and manage a close at 17,862, a day’s gain of just 8 points. However more importantly it was the index management which was noticeable with AUTO stocks picking up momentum as erstwhile out-performers like IT & FMCG cool off. The underlying trend is still UP and there is no strong evidence of a reversal, and so one should continue with a bullish bias and look for fresh momentum breakouts. Watch the video for a much detailed index and sectoral analysis.
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