Nifty consolidates within a defined range

Nifty index opened positive but continued its weakness and dropped to 25000 zones.

- Motilal Oswal Team

Despite the selling pressure it attempted to recover during midday but indecision between bulls and bears and a lack of clear directional momentum sunk it lower. It failed to hold above 25150 zones and closed with losses of around 110 points. It formed a bearish candle on the daily frame and has been making lower highs - lower lows from the last four sessions. Now it has to hold above the make or break zone of 25000 levels for an up move towards 25250 then 25350 zones else a hold below the same could see weakness towards 24900 and 24750 zones.