: Share Market Closing Bell: Sensex ends 153 pts lower, Nifty closes in red, but holds 15700 #IndiaNEWS #Business On the back of weak Global Market & Sgx, Nifty Opened on a negative note and showed

Share Market Closing Bell: Sensex ends 153 pts lower, Nifty closes in red, but holds 15700 #IndiaNEWS #Business
On the back of weak Global Market & Sgx, Nifty Opened on a negative note and showed a bounce back in the first half as it made an intraday high at 15858 but didn’t manage at a higher level and closed at15732 with a loss of 42.30 points.

However, Bank Nifty closed the session at the 33311.55 level with a loss of 94.50 points. Among sectors, Nifty IT, Metal, and Pharma ended in green while Auto & Energy were down by 0.5 percent each.
Stocks BHARTIARTL, NTPC, APOLLO HOSP & DIVIS LAB were the top gainers, While BAJAJ-AUTO, INDUSINDBNK, TECHM & ONGC were the prima laggards. VIX closed above 20 at the 21.89 level with a loss of 2.15 %. which suggests more volatility in the upcoming session. On Technical Front, The Nifty has a Bearish candle with the support of 21 Monthly Moving Average which suggests breaching below the same can show more downside. Nifty has taken support from rising horizontal line i.e., 15660 which is made or break level. Nifty has given closing below 100*200-Hourly Moving Averages which is a weakness in the trend.
The momentum indicators Stochastic & MACD were trading with a negative crossover on a daily chart which suggested a southward journey in the counter. On OI Data Side, Highest Call side OI is at 16000 marks while highest Put Side OI is at 15500 marks. The Nifty may find support around 15600 levels while on the upside 15900 may act as an immediate hurdle. On the other hand, Bank Nifty has support at 32700 levels while resistance at 34000 levels.
Overall, the Nifty is looking weak on charts breaching below the 15660 level can show more downside in the counter. Investors n traders should keep a close eye on US market for trade direction.
Palak Kothari
Research Associates
Choice Broking
Source: Choice India

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