The Indian stock market extended losses for the fifth consecutive session, with Sensex and Nifty tumbling more than 1% intraday before paring most of the losses and closing 0.4% lower each on Friday as oil prices above $100 per barrel, FII selling and other factors spooked investors.
Analyst Sudeep Shah, Vice President and Head of Technical & Derivatives Research at SBI Securities , interacted with ETMarkets regarding the outlook for the Nifty and bank, as well as an index strategy for the upcoming week. The following are the edited excerpts from his chat:
