Indian Stock Gauge's Double Top May Signal Further Losses: Chart

India’s Nifty 50 Index has almost formed a so-called double-top pattern after falling 4.4 percent through Wednesday from its record high of 10,178.95 on Sept. 19. “It is definitely looking like a double top, which may open downside till 9,300, but support is likely around 9,650,” said Jai Balasubramaniam, Singapore-based chief market technician at Cashthechaos.com.

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