Market Meltdown: Nifty50 Plunges into Bearish Territory
Nifty Futures Chart
Nifty 50 opened at 22,432.20 against the previous close of 22,335.70 and fell 1.9 per cent to hit its intraday low of 21,905.65. The index closed with a loss of 338 points, or 1.51 per cent, at 21,997.70.As many as 43 stocks ended in the red in the Nifty 50 index, with shares of Power Grid (down 7.07 per cent), Coal India (down 7 per cent) and Adani Enterprises (down 6.81 per cent) as the top losers.
Nifty Options CE Chart
Nifty Options PE Chart
Top Nifty Gainers
Top Nifty gainers were ITC, ICICI Bank, Kotak Bank, Bajaj Finance & Cipla.
Top Nifty Losers
Top Nifty losers were Power Grid, Coal India, Adani Enterprises, NTPC & Adani Ports.
Bank Nifty Struggles: Resistance at 47500, Sell on Rise Until Breakout
Bank Nifty Futures Chart
The bears maintained full control as the Bank Nifty index faced rejection at the 47500 mark, establishing it as a strong resistance zone. The index continues in a “sell on rise” mode until this resistance is overcome on a closing basis. Moreover, breaching its 20DMA suggests a follow-up selling pressure that could drive the index lower toward the 46000/45500 mark.
Bank Nifty Options CE Chart
Bank Nifty Options PE Chart
Top Bank Nifty Gainers
Top Bank Nifty Gainers were ICICI Bank, Kotak Bank & HDFC Bank.
Top Bank Nifty Losers
Top Bank Nifty losers were Au Bank, SBI, Axis Bank, Indusind Bank & IDFC First Bank.
