November 17, 2021
Markets

Ahead of Market: 12 things that will decide stock action on Wednesday

NEW DELHI: Domestic equity indices fell for the second straight session on Tuesday and ended in the red amid selling pressure in private bank and IT counters. Economic relief measures announced by finance minister Nirmala Sitharaman on Monday failed to boost investor sentiments. Though Nifty tried to move towards the 15,850 level during the day, it witnessed pressure at higher levels and ended the day below the crucial 15,750 mark.

Nifty moved in a range of 112 points throughout the day and formed a bearish candle on the daily chart. Analysts said Nifty may correct more if it fails to hold the 15,700 level in the coming days.

Here’s how analysts read the market pulse:

Mazhar Mohammad of Chartviewindia.in, said, Nifty closing below 15,700 level will be considered a sign of weakness. “If the bulls manage to defend the 15,700 level on a closing basis on Wednesday, chances of a breakout…

Read full article here: economictimes.indiatimes.com