Experts' view: Why would bears cheer Nifty's breakdown below 22,000?
New Delhi, Oct. 2 -- After a successive stock market crash on all four sessions last week, the Nifty 50 index slipped from the 23,140 to 22,421 level, logging a weekly loss of 719 points or 3.10% weekly loss. Market experts believe persistent foreign selling, a weaker Indian Rupee and rising global bond yields outweighed the support from softer crude prices.
Speaking on the Indian stock market sell-off, Shrikant Chouhan, Head Equity Research at Kotak Securities, said, "The market consistently faced selling pressure at higher levels during the week. On the weekly charts, it formed a long bearish candle. On the intraday charts, it continued to make lower highs and lower lows, indicating a largely negative trend. We believe the market's sho...
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