Nifty may breach 17,500 if it fails to trade above 17,700: Analyst

Technical and derivative analysts expect the Nifty to fall further to 17,500 levels if the index fails to sustain above the 17,700-mark this week. The Nifty has slipped below its 20- and 50-day simple moving averages which indicates near-term bearishness, they said. The index fell 1.9% last week, underperforming all regional peers. On Thursday, it had closed 133.85 points lower at 17,764.80.

via Economictimes

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