The markets were already on a weak footing following persistent FII selling, high crude oil prices and fears of a possible change in interest rate scenario.
“If Nifty stays above 17,350 in the near term and 17,100 in the coming sessions, the Index shouldn’t see a serious drawdown.
While crude oil prices are going to be volatile in the near-term and severity of the new Covid-variant is yet to be determined, the market seems to have taken its precaution.
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