Markets oversold; chances of rebound high: Nirmal Bang
MUMBAI: Nirmal Bang is of the opinion that the market are little bit oversold and chances of a rebound is very high. Selling at lower levels
around the support region should be avoided, it says.
“The trend is weak as huge selling pressure is witnessed in Nifty around the 4110-4150 regions. Unless we see a big
move above 4150 this choppiness will be there. If Nifty manages to surpass 4150 then next level could be 4250 shortly.
And on the lower side 3980 should be bottom for the near term, if Nifty trades below 3980 then the fall could be very sharp to the extent of 3720. Currently markets are little bit oversold and chances of a rebound is very high, so selling at lower levels around the support region should be avoided,” said Nirmal Bang report.
source: Economictimes
Tags: indian market tips, markets move, nirmal bang
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