Two things will not please the bulls – One of course, is the fact that there was zero conviction at higher levels to hold on to the gains and move higher, and two, the lower highs and lower lows continued on the Nifty, despite the initial gap-up. Not only did the Nifty failed to cross Friday’s high, but also broke below Friday’s intraday low of 24,629. A minor 30-point recovery from the intraday low ensured that the close was at least above the mark of 24,600.
