Equity benchmarks — Sensex and Nifty — suffered strong losses on July 29, a day ahead of the July series expiry.
Global cues were mixed, which failed to provide a boost to the Indian market, while June quarter earnings triggered the stock-specific movement. A resurgence of COVID-19 cases kept investors cautious as they waited to hear from the US Federal Reserve.
The Sensex closed with a strong loss of 422 points, or 1.10 percent, at 38,071.13 and Nifty settled at 11,202.85, down 98 points, or 0.86 percent.
According to pivot charts, the key support level for the Nifty is placed at 11,121.27, followed by 11,039.73. If the index moves up, the key resistance levels to watch out for are 11,312.87 and 11,422.93. The Nifty Bank index closed 0.13 percent lower at 22,076.60. The important pivot level, which will act as crucial support for the index, is placed at 21,873.13, followed by 21,669.67. On the upside, key resistance levels are placed at 22,313.23 and 22,549.87.
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