Technical analysts do not see a rebound in the markets in the near-term. “Nifty is currently around its crucial support of 23,800 and we see a ‘sell on rise’ market, where it could sustain around 23,400 levels for the next week to next month. As long as it remains below 24,500 our view remains negative,” said Kapil Shah, technical analyst at Emkay Global
Kwality Walls shares fall 3% as RIL’s foray into ice cream biz raises competition fears
Kwality Walls shares dropped on Wednesday as Reliance Consumer Products entered India’s ice cream market with Bombay Creamery, raising competition concerns. The stock extended its