"India and Mauritius are expected to review the existing Double Taxation Avoidance Agreement (DTAA) soon"
34 sessions range broken down by force and Indian markets fell sharply on concerns that the India government may renegotiate its tax avoidance treaty with the island country, which could lead to lesser incentives to invest in the country via Mauritius route.
Bullish markets all hopes finished today after Nifty fall below 5329 because:-
1- 34 sessions range broken down
2- 18 Months Rising trend line broken down.
3- Last 4 months Head & shoulders neckline broken down.
All trends were already down and above 3 developments in EOD charts triggered bear markets confirmation after India and Mauritius Double Taxation Avoidance Agreement (DTAA) renegotiation news.
As soon as we got first indication of down moves then weakness was immediately told within first 8 minutes when Nifty was trading near higher levels of today and also gave next moves confirmation levels.