Nifty likely to consolidate this week: Analysts

​A rejection was seen last week after forming a new high of 18,778; however, the higher high and higher low structure will be only challenged if we breach 18,464 on the way down. Nifty formed a bearish inverted hammer candle on weekly charts, which means the bias remains negative, especially if we breach the previous week’s low of 18,531.

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