Stock markets: The Nifty closed below 23,400 on 10 February. Indian equity indexes have seen a decline. In today’s trading session, the Sensex fell 548.39 points or 0.70 per cent to 77,311.80 and the Nifty fell 178.35 points or 0.76 per cent to close at 23,381.60. Today, about 1029 shares rose, 2917 shares declined and 108 shares did not change. Trent, Power Grid Corp, Tata Steel, Titan Company and ONGC Nifty were among the top losis. While Kotak Mahindra Bank, Britannia Industries, Bharti Airtel, HCL Technologies, Tata Consumer Products saw an increase.
Nifty midcap and smallcap indexs fell by 2–2 percent. Metal, media, pharma, consumer durables, power, realty fell by 2-3 per cent, with all the sectoral index in red mark.
Aditya Gaggar director of progressive shares Says that the current trade war related to tariffs has continued to negatively impact Indian equity markets. After a dull start, the index continued the whole day’s decline and finally closed at 23,381.60 with a steep decline of 178.35 points. All sectors saw a huge decline. Realty and metal sector fell the most. The sale pressure in the broad market was particularly high. Both mid and small-cap segments saw 2.12 per cent and 2.11 per cent fall.
With strong bearish candlestick, Nifty decisively broke its important support level of 23,500. Now the next big support is visible for the Nifty at the level of 23,240. At the same time, resistance is visible at 23,465 for this upwards.
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LKP Securities Senior Technical Analyst Metapors Day Says that the headline index continues to fall as it is falling after reaching the lower top on the daily chart. After the Nifty fell below 21ma, the sentiment has become more weak. Apart from this, RSI has also entered the bearish crossover. The market trend in the short term may deteriorate when the Nifty goes below 23,350. If the Nifty goes below 23,350, the fall may increase to 23,000. Registration is visible at 23,550 for the top nifty.
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