: Share Market Closing Bell: Sensex, Nifty end lower amid volatility; Sensex down 50 pts, Nifty 6 pts #IndiaNEWS #Business It was a volatile expiry in Indian stock market today because of geopolitical

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Share Market Closing Bell: Sensex, Nifty end lower amid volatility; Sensex down 50 pts, Nifty 6 pts #IndiaNEWS #Business
It was a volatile expiry in Indian stock market today because of geopolitical tension arising between China and Taiwan.Nifty opened on green note but showed selling pressure from the top and made an intraday low at 17161.25 levels but managed to recover and closed at 17382 levels with a loss of 6.15 points.

However, Bank nifty closed the session at 37555.55 level with a loss of 233.70 points. 33 stocks out of NIFTY 50, ended in green suggest broad based buying. India VIX closed at 19.26 up by 4.39% suggesting more volatility in the upcoming session. Among sectors, IT and Healthcare indices up 1-2 percent, while Power and Realty indices down 1 percent each.
In Nifty Stocks CIPLA, NESTLEIND, SUNPHARMA, INFY & HINDALCO were the top gainers, While NTPC, TATACONSUM, COALINDIA & RELIANCE were the price laggards. On the technical front, Nifty has taken support from the horizontal line as well as 200 DMA on a daily chart which suggest buyers are active. Nifty has faced resistance from physiological levels of 17500 crossing above is very important for further rally. Nifty has given closing above 61.8% Fibonacci retracement of its previous down move from 18630 to 15160   levels i.e., 17308 which indicate strength for upside.
On the OI Data, On the call side the highest witnessed at 17500 level followed by 17600 while on the put side was at 17000 level. The momentum indicators MACD was trading with a positive crossover on a daily time frame which suggest strength in the counter. The support for nifty has shifted around 17150 levels while on the upside 17500 may act as an immediate hurdle. On the other hand, Bank nifty has support at 37000 levels while resistance at 38200 levels.
Overall, the bullish momentum is intact as nifty holds 17150 levels, crossing above 17500 can show more strength in the counter.
Market able to absorb today selling nicely on weekly FNO indices expiry day,showing bulls strength,if situation doesnt worse at china Taiwan front,market may see sharp rally.
Better to trade in small quantity for small profit n strict stop loss or through options.
Palak Kothari
Senior Technical Analyst
Choice Broking
Souce: Choice India

Intraday stocks under 50 NSE India Twitter of India

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