Nifty Market Outlook

Nifty Outlook:-

Nifty extended downtrend for third consecutive session and closed below 10,900 levels, dragged by oil & gas, select banking & financials and auto stocks. Mixed global cues and not so encouraging December quarter earnings along with fear of downgrade dented the market sentiment. Traders also looked cautious ahead of macro data – January CPI inflation and December industrial output scheduled to be announced on evening.

Daily Chart:

chart

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