Ahead of Market: 12 things that will decide stock action on Monday
NEW DELHI: Nifty ended lower for the third day in a row on Friday and formed a small-bodied bearish candle on the daily chart, indicating selling pressure at higher levels.
Gaurav Ratnaparkhi of Sharekhan by BNP Paribas said the daily chart showed Nifty has broken a crucial rising trendline drawn from the March low. However, the index is yet to break the key support zone at 11,050-11,000 on a closing basis.
“Once this support zone is breached, Nifty will be set for a significant decline. The 1…