The Nifty50 closed 346 points lower at 17,530. On a weekly basis, the index corrected 1.7 per cent. It formed a bearish engulfing candle after two consecutive bullish candles, which suggests that the momentum could take a breather.
Indian markets may consolidate on Tuesday following mixed global cues. The Sensex gained over 300 points with Nifty50 closing just below 18600 levels. India VIX
Considering a base case, we can see NIFTY to be around 20,000 levels given that India has positioned itself in the best spot where it
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