Benchmark indices opened lower with the Sensex falling 81.89
points to 39,133.75 and the Nifty50 slipping 21 points to 11,666.50 due to weak
Asian cues.Benchmark indices were mixed in pre-opening trade. The BSE Sensex
was up 25.32 points at 39,240.96 and the Nifty50 fell 17 points to
11,670.50."Going ahead, as the Nifty is maintaining higher high and higher
low on the daily chart, we expect it to extend the current pullback towards
11,800 levels, as it is the confluence of the 61.8 percent retracement of previous
decline (11,982–11,461) and the negative gap on July 8 placed at 11,811-11,772
levels," Dharmesh Shah of ICICI Direct said.Going ahead, he advises
investors to stick to quality stock as we sail through Q1FY20 earnings season.
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