: Share Market Closing Bell: Nifty ends around 15,400, Sensex falls 709 pts #IndiaNEWS #Business The Indian stock markets depleted on Wednesday snapping two days gain, tracking weakness in global cues.

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Share Market Closing Bell: Nifty ends around 15,400, Sensex falls 709 pts #IndiaNEWS #Business
The Indian stock markets depleted on Wednesday snapping two days gain, tracking weakness in global cues. The Nifty 500 Index, the broadest gauge for the Indian equity market accounting for 90 percent of the market capitalization, has fallen nearly 13 percent could worry the long term investors as well. Sensex settled at 51822.53 wiping out 709 points or 1.35 percent and Nifty ended at 15413.30 with loss of 225 points or 1.44 percent.

Also, Bank Nifty closed the session at 32845.30 levels slipping 1.63 percent in a day. The Nifty Midcap and the Nifty Smallcap fell around one percent each. Investors awaited a key testimony by the Fed due later in the day. All sectors ended in red, as maximum losses were contributed by Nifty Metal and Media by losing 3-4 percent each.
In Nifty stocks, BPCL, HEROMOTOCO and DIVISLAB were the top gainers while UPL, HINDALCO, and TATASTEEL were the prime laggards. From the OI Data of Nifty, on the call side the highest OI witnessed at 15700 Nifty followed by 15800 strike price while on the put side, the highest OI was at 15000 Nifty followed by 15200 strike price.
Technically, Nifty has formed a bearish candlestick on the daily chart. From the hourly chart, Nifty 15550 levels have minor resistance for next trading day. However view negated if closing and sustaining above those levels. Indicators such as ATR and ADX remained on the weaker side on the daily chart as well. The Nifty may find support around 15200 levels while on the upside 15600 may act as an immediate hurdle.
On the other hand, Bank Nifty has support at 32200 levels while resistance at 33500 levels. Overall, Index remains on weaker side, sell on rise and working with option strategy would be suggested to counter volatility.
Om Mehra
Research Associate
Choice Broking
Source: Choice India

Intraday stocks under 50 NSE India Twitter of India

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