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Oversold markets due for pullback, LIC listing will be key sentimental factor

Sumary of Oversold markets due for pullback, LIC listing will be key sentimental factor:

  • Technically, the Nifty is vend near the previous swing low of 15670 and most of the momentum facts are vend in oversold arena; therefore, we can expect a bounceback towards 1618016400 stages while if the Nifty blunders below the 15670 level, then trade pressure may be intensified towards 1550015000 stages.
  • The movement of the dollar index, crude oil prices, and the direction of the rupee will be other all-important factors.

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