What is the story about?
Nifty index opened negative and continued the selling stance and broke its immediate support levels of 25750 zones. It attempted some recovery post the initial sell off but again gave up towards the end
of the session and closed with losses of around 120 points. It formed a small bodied bearish candle on the daily frame and has been making lower highs – lower lows from the last two sessions. Now till it holds below 25900 marks, index may face some weakness towards 25750 then 25600 zones while hurdles have shifted lower to 26000 then 26150 zones.
