A long bear candle has been formed on the daily chart, indicating a decisive downside breakout of 24,600-24,500 levels. Nifty is currently weakening after forming a new lower top around 25230 levels. Another crucial weekly cluster support around 24,500 is placed on the verge of a downside breakout.
Explained: Why Vedanta Aluminium, Hindalco, Nalco shares tumbled up to 7% on Friday
Vedanta Aluminium, Hindalco and NALCO fell as aluminium prices retreated after Norsk Hydro resumed Alunorte refinery production, easing supply shortage concerns.