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Nifty can drop 1,000 points if key 11,825 support broken: Kedianomics

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Nifty can drop 1,000 points if key 11,825 support broken: Kedianomics

Sushil Kedia Founder of Kedianomics in an interview to CNBC-TV18 said that the markets might see a fast 1,000 point drop in the short term if 11,825 is broken on a closing basis. However he cautioned that the skewed move in banks and scorching strength in IT, makes the current levels a dangerous place to take a strong call immediately in either direction and would wait for a couple of more days for confirmation.
He added that banks are likely to fall less compared to Nifty if the 1,000 point drop comes in the market.
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