The Indian equity indices on Tuesday continued selling for the third straight trading session on the back of geopolitical tension looming over West Asia. Sensex dipped 456 points or 0.62% to close the day’s trading at 72,943.68. The Nifty 50 closed 124.60 points or 0.56% lower at 22,147.90. The losers included Infosys, IndusInd Bank, LTIMindtree, Wipro, and Bajaj Finserv. While the gainers were Eicher Motors, Divi’s Laboratories, Titan Company, HUL, and ONGC.
Nifty Bank closed the session 288.45 points lower at 47,484.80. The Nifty Midcap 100 lost 44.35 points or 0.09% to settle at 49,237.
On the sectoral front, PSU bank and tech stocks dragged the indices lower but oil & gas gained throughout the day in the weak market. In the broader indices, midcap stocks closed in the red. Come from Sports betting site
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“Technically, the trend has weakened as the index fell below the 21EMA. However, following the sharp decline, the index may find short-term support within the 21930-22030 bands, where previous congestion occurred. Conversely, failure to maintain support at 21930 could exacerbate panic in the market. On the higher end, resistance for the short term is positioned at 22400,” said Rupak De, Senior Technical Analyst at LKP Securities.
“The Bank Nifty index, after a shaky start, witnessed a recovery in the latter half of the session and managed to close above its 20-day moving average (20DMA), which is situated at 47,500. If the index sustains above the 47,500-47,400 range, it could experience a pullback towards the 48,000 level. However, a break below 47,300 on a closing basis might trigger further selling pressure, potentially driving the index down towards the 46,500 level,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.Come from Sports betting site VPbet
