Indices Witness Perpendicular Fall

The Indian markets surrounded in profit booking session from last four consecutive trading sessions. The benchmark indices witnessed a nosedive trade in last hour, fell around 2% each. All the sectoral indices were hammered badly, the Indices like Capital Goods and Auto stock sink, and were down by 300 points each. This was followed by Bankex and FMCG that too tanked and fell around 250 points each. The Nifty closed below its 100 day EMA level and was down by 157 points and closed at 8448 while Sensex was down by 555 points and closed at 27886.

The advance-decline ratio on NSE was on a negative side, as the day ended with 885 shares in green and 1961 shares in the red zone.

Top Nifty Gainers: Bank Of Baroda closed the day higher by 1.07%, followed by Lupin, BPCL, Sun Pharma and ACC.

Top Nifty Losers: NMDC closed the day lower by 5.09%, followed by Reliance, Hero Motocorp, IndusInd Bank and M&M.

All the sectoral indices had been seen heavy fall from last few days. Capital Goods and Auto stocks were the saw perpendicular fall and were down more than 350 points respectively. Followed by Bankex, IT, FMCG, Mid-caps and Small Caps stocks were hammered, down more than 200 points each. While Metals and Oil & Gas also closed below crucial supports.

The Asian markets witnessed some negative scenario. The Hang Seng market continues with its down move by 558 points. Followed by Nikkei and Shanghai Composite market were down more than 20 points each. 

Buzzer: Reliance Industries was down by more than 4.45% on the bourses today and closed below at the technical level around Rs 900. If the stock opens below this level, it may touch Rs 870/860 mark in the next few sessions. 

Nifty Future bearish Side by Side black lines in daily chart, indicating more down side up to 8400 level.