Nifty forming Broadening Formation

NIfty-50 under pressure and closed under 21 & 50 days Ema, if this pattern is to be held true then one may expect downfall below 143420-14390 levels before 10th March following which crucial support will be 14270 and 14000. Further, added global cues might decide the short term range but market to remain volatile due to:

• Negative/ Below Satisfactory Manufacturing data
  
  

Rising restrictions due to Covid-19 and borders closure

Partial sell off by FIIs- Positive US employment data and negative Emerging Markets outlook

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