“There is an apprehension that sales may be impacted with slower recovery in rural areas than expected,” said Nirvi Ashar, fundamental research analyst at Religare Broking. The company is scheduled to announce its first-quarter results on August 4.
Tech View: Nifty flashes bearish signals, immediate resistance at 23k. How to trade on Tuesday
Nifty’s short-term trend remains negative, with support at 22,700-22,650 levels (38.2% Fibonacci retracement) and resistance at 23,000, according to Nagaraj Shetti of HDFC Securities. Open