Indian equity markets are expected to extend losses on Tuesday, Stocks as trends on the SGX Nifty indicated a negative start for India’s broader index, with a loss of 107.50 points or 0.66 percent. In the previous session, benchmark indices ended flat with a negative bias, snapping a three-day winning streak. The BSE Sensex fell 87 points, or 0.16 percent, to 54,395, while the NSE Nifty 50 fell 4 points to 16216. “With global sentiment being mixed, the focus should be on upcoming macroeconomic data and earnings for cues.” We reiterate our bullish outlook, expecting the Nifty to test 16,500 soon.
Participants should adjust their positions accordingly and continue to use the “buy on dips” strategy until the Nifty stays above 15,900,” said Ajit Mishra, VP – Research at Religare Broking.
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