NEW DELHI: The Nifty50 dropped for the third session in a row on Wednesday to close a tad above the 9,900 level. The index started forming lower tops and lower bottoms, while it may have also formed a ‘Head & Shoulder’ pattern on the daily charts. At no point during the session did the index enter the positive terrain. The pattern indicates a target up to 9,800. “This corrective move is likely to extend towards the 9,870-9,820 zone,” he said.

Source: Economic Times August 09, 2017 11:37 UTC