Commenting on the current market situation, Amar Ambani, Head of Research, IIFL said, “After showing signs of a pullback, indices were unable to carry forward the momentum on Wednesday. Nifty failed to hold on to its support of 100 WMA, which indicates that selling pressure would further intensify. There are high probabilities that Nifty is heading towards September lows of 7540. Traders are advised to avoid risky bets on the index. Stock specific activity could be considered for now.”
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