Nifty ends lower; snaps five session buying spree

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Indian indices ended lower, snapping five day winning streak, as investors await reports industrial output due out tomorrow for further direction. Nifty future contract expiring on 27th March 2014 fell 0.34%, or 22.25pts to close at 6545.30, with premium of 34.20 and open interest increased by 2.13%. Nifty made a small bearish candle with small or little shadow on both sides, retreating from record high which reflects nervousness among the traders at higher levels. Moreover, Nifty traded and closes strongly above the second bullish gap of 6 points (6407-6413) opened on 07th march for third straight session and maintain higher high-low formation indicating that short to medium term trend is still bullish. Further, weakness below day low would lead to further volatility and choppiness pushing market towards 6420-6410 levels.

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Story first published: Tuesday, March 11, 2014, 23:12 [IST]
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