Nifty Has Strong Support At 9850; 4 Stocks Which Can Give Up To 26% Return

The Nifty formed a smaller bear candle which maintained a lower high lower low compared to the previous session as the index extended losses for the third consecutive session.

The index has taken a breather on expected lines as the five-week strong rally of over 7 percent since June 2017 lows pushed the weekly momentum oscillators into overbought zone.

Historically, since 2013 it has been observed that the index has not formed more than five consecutive bull candles on a weekly scale.

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