India’s equity benchmark continued to fall after pausing for a day in the previous session due to losses from major players such as Infosys, Reliance Industries, ITC, HDFC, Larsen & Toubro, Tata Consultancy Services and Maruti Suzuki . For most of the day, the benchmarks trade firmly higher, but selling pressure in the last trading hour around 17,600 resistance on Nifty led, analysts said. sharp correction in the market, analysts said. Sensex is down as much as 825 points from its intraday high and Nifty hits an intraday low of 17,354.
The Sensex fell 323 points to 58,341 and the Nifty 50 index dropped 88 points to 17,415.
“Our research suggests that sustaining above 17,400 will be a key level for Nifty to stay positive in the short term. If the market can sustain 17,400, it could see a move. positive force towards the 18,000 level,” Vijay said. Dhanotiya, lead technical research analyst at CapitalVia Global Research.
