Mehul KothariThe Nifty spot index has been struggling to clear the 12,150–12,200 zone, which was the potential reversal zone of a bearish harmonic AB=CD pattern.Close The index has undergone a corrective move in three out of four trading sessions so far this week. Even the market breadth remained in favour of declining counters, which indicates profit booking in individual stocks. related news Early on D-Street | Bulls should remain in control as long as Nifty holds above 11,950 In The News podcast | Chidambaram mocks Sitharaman, MPC keeps key rate; Unnao rape victim burnt and more MC Special podcast | RBI’s credit policy review raises concerns over economic recovery At this juncture, it is trading this week with a loss of around 0.31 percent. On the other hand, the Nifty Bank index too suffered some selling and is trading with a loss of 0.73 percent from its previous week’s close.Looking at the weekly chart of the Nifty spot, it can be construed that the … [Read more...] about Hot Stocks: Consolidation likely but 11,900 likely to act as crucial support for Nifty
