The momentum indicator aligns with this bearish outlook, displaying a crossover. Nifty might remain in sell-on-rise mode as long as it remains below 21,850. On the downside, support is situated at 21,500, Rupak De of LKP Securities said.
Hyundai India’s weak debut one more among mega IPOs
“Since the issue size was large, it took away the possibility of the share price seeing any scarcity premium on the listing day,” said Mrunmayee