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Nifty ends below 8000 level mark

By Religare

Indian indices ended the session lower, marking their eighth straight fall in previous nine sessions. Nifty future contract expiring on 25th June 2015 fell 1.98 percent or 160.85pts to close at 7959.20, with discount of 6.15points and open interest increased by 7.67 percent.

On daily charts, Nifty has made a sizable bearish candle erasing almost all the gains of previous two sessions, indicating that bear are still in control of the market. Further, index has managed to break and closed below the major support of 7980, which is also the lower boundary of 'descending triangle' which is very bearish signal. The index is expected to face further selling pressure in the coming sessions, if index stays below 7950, leading the index towards it next support of 7880.

Story first published: Thursday, June 11, 2015, 23:00 [IST]
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