The stock also closed below the lower Bollinger Band on the daily charts, which suggests weakness. Traders should avoid catching the falling knife and look to sell the stock for a downside target between Rs 300-400, suggest experts.
Nasdaq rises 1%, Dow, S&P close higher as weak jobs data tempers rate hike bets
U.S. stocks finished higher following a weaker-than-expected jobs report which eased rate hike expectations. Nonfarm payrolls rose by only 29,000, significantly below economists’ forecasts of