The Nifty50 after rangebound trade extended losses in last hour of trade and closed in the red for third consecutive session on Tuesday despite strong global cues and sharp rupee appreciation. The selling pressure in technology, banking & financials and FMCG stocks weighed the market.
The index failed to cross previous day’s high and continued its weakness towards 10,824 zones to settle near its 50 DEMA. It formed a bearish candle on daily scale.
As the market managed to hold on to its crucial support of 10,812 levels, there could be possibility of pull back rally in coming session, experts said, adding 10,900 could be next crucial level for further rally.