Market Trend: The Indian equity index has closed with a weak trend on 27 January. The Nifty fell below 22,850 today. At the end of the trading session, the Sensex fell 824.29 points or 1.08 per cent at 75,366.17 and the Nifty fell 263.05 points or 1.14 per cent to close at 22,829.15. Mehta Equality Prashant Tapse Says weak signs of the US and European markets, the external F&O of the end of this week, the frequent clearance of FII funds and the weak results so far of the third quarter to distance investors to distance investors from the equity market has prompted. The Sensex fell below 76 thousand points due to heavy selling in IT, telecom, metal, oil and gas and realty shares. Investors are exiting mid and small cap stocks in the concern that the recession in the earnings is further increasing the risk of high valuation.
LKP Securities Senior Technical Analyst Metapors Day Says that the index on the Daily Chart has slipped from its recent consolidation. This has increased disappointment in the Indian equity market. There is a possibility of recession business in short term. Especially as long as the Nifty remains below 23,000, there will be a possibility of increasing weakness. The current weakness can push the Nifty towards 22,500.
Market Outlook: Market closed with heavy decline, know how it can be on January 28
Technical Research Analyst Jatin Gedia at Mirre Asset Sharekhan It is said that the Nifty got to see the gap down opening today and he continued to do business with negative trends throughout the day. It closed down 263 points. On the Daily Chart, the Nifty has broken the two -week Consolidation Range downwards. It is a sign of the onset of the next phase of decline. Hopefully the Nifty will go down to 22670.
The zone roll of 23000 – 23050 on the top will now act as an immediate registration zone according to the principle of Reversal. The mid and small cap index have seen more pain in the broad market with a large correction of 2.8 per cent and 4 per cent. Overall, a negative attitude on the index is maintained.
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