Tech View: Bloodbath on D-St! Should traders go short on Monday?

Tech View: Bloodbath on D-St! Should traders go short on Monday?

The short-term moving average for the Nifty50 is at 17,315. The index bounced back after taking support around 50-DMA to finally close 302 points lower at 17,327. It hit an intraday low of 17,291. The Nifty50 formed a long bearish candle on the daily charts. The Supertrend indicator also triggered a sell on Friday. A rise in US bond yields and selling by foreign institutional investors, weighed on sentiment. FIIs were net sellers for more than Rs 2,500 crore in …