Closing Update : Tracking weak global cues indices opened with gap down and saw sharp recovery from lower levels but couldn’t sustain at higher levels and closed the day on negative note.
If we look at broader markets sector wise – Nifty Media, IT and pharma sectors were the top 3 gainers where as Banking, Auto and Services sectors were on losing side.
Top gainers were DR Reddy, Coal India and Ultratech Cement in Nifty50 stocks whereas Kotak Bank, Titan and HDFC Bank were the top losers.
Even with the Down move in indices today India VIX cooled off almost 3%.
Lets check out the Indices Charts and Technicals for today :
Nifty Futures opened below support levels of 17140 but managed to recover in first hour of trade but faced selling pressure at 17340 levels to close with losses. With today’s lower level breakdown bias will be bearish as long as it trades below the resistance levels.
Bank Nifty also gapped down below lower levels 35850 and recovered sharply but failed to sustain the higher levels close to 36050.
Disclaimer: The views are in line with the pure chart study, no pre-defined geopolitical factors are considered. Also, we strictly advise not to take any positions just based on the above views. For regular intraday recommendations, you must have our premium subscription.