A morning walk down Dalal Street | Nifty must decisively hold 11,550 zones to retest lifetime high of 11,761
Benchmark indices on a weekly basis closed in the red which suggests heavy selling is visible at higher levels.
For an index to surpass its previous record high, it has to hold above 11550-11500 levels
For the last 10 trading sessions, Nifty has been consolidating in the range of 11550 to 11,760. A break of this range would give the signal of fresh momentum in the market.
Markets will react to earnings of TCS and Infosys as well as macro data which were all released post market hours on Friday.
India’s factory output growth dropped to a 20-month low in February in a worrying sign for the country’s growth prospects.