Bears managed to regain control of Dalal Street after a rollercoaster ride. The Nifty Index closed mildly in the red as globally investors remained cautious ahead of the implementation of tariffs by the US and China on Friday.
The index option failed to hold on to 10,750 levels and formed a bearish candle pattern on the daily charts which also resembles a small Bearish Belt Hold kind of pattern.
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The 50-share NSE Nifty after opening at 10,786.05, which was also an intraday high, traded in a range of 60 points throughout the session and hit a day's low of 10,726.25, before closing 20.10 points lower at 10,749.80.
The consolidation indicates that index could move on either side but today's positive move in the Bank index suggested that banks may help Nifty reclaim 10,800 soon, experts said.
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