Street signs: Nifty at critical juncture, fear of job cuts, and more

Last week, the volatility indicator fell sharply even as the Nifty fell 6.5 per cent. Analysts, however, say the weakness in financial stocks is a pain-point for the market

Nifty at critical juncture

The benchmark Nifty on Friday ended at 8,084, its lowest close since March 24. Technical analysts say the 50-share index is hanging around key support levels. “If the Nifty holds on to 8,000, it can go towards 8,300. If it falls, it could re-test recent lows of 7,600,” said an analyst. Market players said the cooling off of India VIX is positive, as it signals less volatile moves in the short term. Last week, the volatility indicator fell sharply even as the Nifty fell 6.5 per cent. Analysts, however, say the weakness in financial stocks is a