Nifty started the week with a minor cut of 0.21%. Most of the Capitalization based broad market and Sector based indices closed in the red. In NSE, 853 stocks declined in comparison to 583 stocks advancing.
Nifty Intermediate Term
It was an uneventful day for the Nifty which closed with minor losses but the breadth was negative and as discussed in Weekly Nifty Update – 22 June 2019 .. Bias Negative (Click here ) the bias is on the downside. What will actually trigger the selloff only time will tell.
Nifty Short Term
The selloff continues and Nifty is expected to touch the lower end of the falling channel currently placed at 11550. The bearishness negates temporarily if it closes above the top end of the channel.
The expiry week can be interesting sometimes but mostly boring. Let’s see how it happens this time.