In the early trade today the benchmark sensex fell down by 35 points.
The S&P BSE Sensex was trading at 27,895 up 13 points, while the broader Nifty50 was ruling at 8,644, up 3 points. The BSE Midcap and BSE Smallcap indices registered an uptick of 0.04%, and 0.11%, respectively.
Also Read: Sensex up 100 points, Nifty at 8,600 in early trade
As per the source, Geojit BNP Paribas in a note said "There is exchaustion, and indications that buyers are not comfortable with prices much above 8,600. However, with oscillators still comfortable, the approach can be to “buy on dips, rather than “sell on rallies”, atleast until above 8,600. Alternatively, direct fall below 8,580 could see 8,500-8,470 exposed, but a steep fall is less expected,"