Indices consolidate amid profit-booking

BSE Sensex retested its 50 DEMA and found sup- port near the same indi- cating buying interest at lower levels

- Motilal Oswal Wealth Management

Nifty index opened negative and despite the attempts of recovery in the first tick, it failed to cross 26,200 marks. It witnessed some smart buying in the last hour after taking support of 26,050 zones. It formed a doji sort of a candle on the daily frame and has started to form lower highs-lower lows from the last two sessions. Now it has to cross and hold above 26,150 zones for an up move towards 26,250 and 26,350 zones while supports can be seen at 26,050 then 25,950 zones.