Indian headline indices ended mixed on Tuesday giving its morning gains. While the Nifty fell for the sixth straight session, the 30-stock BSE Sensex broke its five-session losing streak. The former closed the session at 22,547.55, down by 5.80 points or 0.03%, and the latter at 74,602.12, gaining by 147.71 points or +0.20%.
Commenting on the day’s action, Rupak De, Senior Technical Analyst at LKP Securities said that the index remained mostly muted, except for a small correction towards the close. “Sentiment continues to favor the bears as the index sustained below the 21EMA on the hourly chart throughout the day, indicating selling on every rise. On the lower end, support is placed at 22,500, below which sentiment may worsen further. On the higher end, resistance is seen at 22,650 and 22,750-22,800. A rise towards resistance is likely to attract selling pressure,” De said.
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