Mount 10K on Nifty will not come in a hurry; 9,550 remains key support for markets

The Nifty50 might by just down 0.4 percent from its record high of 9,709.30 recorded earlier this month but there is one thing which traders can’t ignore and that is momentum which has clearly slowed down. The Street which was abuzz with a Nifty50 target of 10K in a hurry in the beginning of June series has now curtailed its expectations. Technical chartists suggest some more consolidation before index eventually moves higher but it is not a ‘top’ for markets. Rangebound movement witnessed in the last 7-10 days along with low volume activity suggests that bulls should tread with caution as bears could overpower D-Street anytime. Traders are advised to trade with strict stop losses. Free Trials for two days in Financial Market click here to subscribe us >>


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