Fundamental:
With the rising COVID cases in India, lockdowns being imposed by some of the state government and expected to be imposed by others if situation does not improve. This resulted in contraction of The Index of Industrial Production (IIP) by 3.6 per cent for February 2021, mainly on account of a steep contraction in the manufacturing output. Meanwhile,...
Nearest gap is at 14338, nifty may take support there or else near trendline at around 14000.
In case of breakdown below this trendline (14k), may retest 12500 levels (previous ATH).
Hidden divergence (bearish), however similar divergence was invalidated during Sept-Oct-20 ( After V Shape recover in economic activity).
