01 April 2020 5:10:PM
NIFTY ends the session near the 3 Day low.
- Nifty and SENSEX moved in sync and ended the session with around 4% cut, BANK NIFTY ended with a slightly deeper cut of (-4.9%).
- The RSI (34.8) plotted on the daily chart of NIFTY has formed a bearish hinge, and making a move towards the support level of the consolidation, indicating the presence of bearishness in the prices
- All the sectoral indices ended the session in the RED. The fall was led by NIFTY IT, NIFTY PVT BANK and NIFTY FINSERV that ended the session with a loss of (-5.48%), (-4.86%) and (-3.97%).
- On the stocks front the NIFTY Heavy weight like HEROMOTOCO (2.48%), BAJAJAUTO (1.02%), BAJFINANCE (1.02%) were the highest gainers and ended the session in the green.
- TECHM, KOTAKBANK and AXISBANK were the losers and ended the session with a loss of (-9.40%), (-8.68%) and (-6.20%) respectively.
Ø NIFTY SPOT: 8253.80 (-4.00%)
Ø DYNAMIC PARAMETER: Nifty formed Lower Top Lower Bottom formation.
Ø TRADING ZONE:
Resistance: 8588.10 (Day’s high)/ 8678.80 (previous session high).
Support: 8198.35 (Day’s Low), 8036.95 (24th march high)
Ø BROADER MARKETS: OUTPERFORMED, MIDCAP 11460.70 (-2.08%), SMALLCAP 3538.00 (-1.58%), Advance-Decline: 937/822
Ø STRATEGY: Bearish till below 9038 (27th march high).