In the last week, the benchmark indices witnessed profit booking at higher levels. Technically, on daily and intraday charts, the market is holding lower top patterns, and on weekly charts, it has formed a bearish candle, which is largely negative, said Amol Athawale, VP-technical Research, Kotak Securities.
He projected that the short-term market texture is weak, but a fresh sell-off is possible only after the dismissal of 24,900 and 81600 levels for Nifty and Sensex, respectively. Below this level, the market is likely to retest the levels of 24,600-24,500 and 80700-80400, respectively.