Technical View: Today, on February 11, the benchmark index continued to decline in the fifth consecutive season. The Nifty slipped below 23,000 levels during the session. The index declined due to concerns over all -round selling and steel and aluminum imports on US President Trump’s new tariffs. After the weak start of the market, Mandadis took the front and pulled the market further down. The Nifty fell below 23,000 with all -round selling for the first time since January 28, 2025. But the last hour purchases helped the index to compensate for some damage. It closed at 23,071.80 with a decline of 1.32 percent. At the same time, the poor performance of the broader index continued. The Nifty Midcap index fell 3 percent and the smallcap index fell to 3.5 percent.
The most declining shares on Nifty 50 include Apollo Hospitals, Eicher Motors, Shriram Finance, Coal India, Bharat Electronics. While the increasing stocks included Shares of Adani Enterprises, Trent, Bharti Airtel, Grasim Industries.
All the sectoral indexed fall in red mark in auto, consumer durables, oil and gas, energy, FMCG, media, PSU bank and realty.
How will the market move on Wednesday 12 February
Nagraj Shetty of HDFC Securities Said, “The market continued to decline in the fifth consecutive season on Tuesday. The Nifty closed down with a steep decline of 309 points. After the negative trend opened, the market continued to fall in the session. Intrade weakness began and the Nifty eventually closed close to the lower level. “
He further said, “It had a long beer candle on the daily chart. It has decisively broken the significant support of 23400 levels and closed at the lower level. Technically this pattern indicates a strong negative momentum in the market. .
He said, “Large -scale recession patterns are visible on the daily chart. The Nifty is now slipping down to create a new lower bottom below the level of January 22786. However, from here, from here Strong resistance can be seen around the level of 23200 in any upper boom. “
The bank Nifty index was also under pressure in the third season and fell 1.16 percent to close at 49,403.40.
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