The US market#39;s weakness led to a sluggish start in the Indian market. Key sectors like IT, oil gas, metal, and realty were down, while power indices showed a modest rise. Call writers dominated with heavy call writing at 19400 strike, forming a resistance. The breach of 50EMA at 19270 could signal further weakness. Analysts suggest a breach below 19250-19300 range could lead to more decline, while 19500-19650 poses strong resistance.
The US market#39;s weakness led to a sluggish start in the Indian market. Key sectors like IT, oil gas, metal, and realty were down, while power indices showed a modest rise. Call writers dominated with heavy call writing at 19400 strike, forming a resistance. The breach of 50EMA at 19270 could signal further weakness. Analysts suggest a breach below 19250-19300 range could lead to more decline, while 19500-19650 poses strong resistance. The US market#39;s weakness led to a sluggish start in the Indian market. Key sectors like IT, oil gas, metal, and realty were down, while power indices showed a modest rise. Call writers dominated with heavy call writing at 19400 strike, forming a resistance. The breach of 50EMA at 19270 could signal further weakness. Analysts suggest a breach below 19250-19300 range could lead to more decline, while 19500-19650 poses strong resistance. Moneycontrol Latest News Read More
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