Street signs: 15,800 key for Nifty, headwinds for gold financiers & more

Shares of gold finance firms, such as Muthoot Finance and Manappuram Finance, may come under pressure because of the softness in the price of yellow metal

15,800 key for Nifty

The markets went through consolidation last week, dropping 1 per cent after three straight weeks of gains. The Nifty closed at 16,049, slightly above its 50-day moving average of 16,027. Technical analysts say the market trend will remain positive as long as the Nifty manages to stay above the immediate support of 15,800. “Only a break below 15,800 will then lead to a resumption of the downtrend and until then, one should be optimistic from a short-term perspective,” said Ruchit Jain, lead research, 5paisa.com.

Mid-caps see buying interest

Buying interest is seen returning to the broader markets. The Nifty