Momentum will pick up on the upside on any strong close above the 12,150 level.
NSE Nifty has negated lower high and lower low formations of the past three sessions.
Shree Cement’s market valuation exceeds total m-cap of Ambuja, ACC and the Ramco Cement.
India Inc has started citing the epidemic in their quarterly earnings of late.
NSE Nifty may need to move above 12,031 for any bounce towards 12,150-12,200 level.
The stock has breached the most optimistic targets as soon as they were set.
Any sustained move below the 12,000 level can push NSE Nifty towards 11,800.
Nifty has managed to hold the support at 12,000, but followup buying was missing.
Analysts expect the flows into MFs to gather further momentum in the coming months.
Nifty50 needs to hold above 12150 to witness an upmove towards 12,280 and then 12,350.
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