Stock picks of the day: 11260 – 11200 are the levels to watch out for this week on Nifty
We had a gap-down opening on Monday by a fair margin on the back of mounting concerns over the trade war between the two largest economies, the US as well as China.
During the entire week, the uncertainty on this development kept looming over on the entire globe including Indian markets. The Nifty50 lost nearly 4 percent from the previous weekly close, posting its biggest drop after October 2018.
Since the last few weeks, markets slipped into a consolidation mode and were struggling to overcome the 11800 convincingly.
Going forward, all traders will keep a close eye on the sacrosanct level of 11549, which gained tremendous respect in the last couple of occasions. But, this level got thrashed brutally post this negative development and then the selloff was evident.