Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended Wednesday’s session in the red territory. The NSE Nifty 50 fell 57.8 points or 0.32% to 18,089.85 and BSE Sensex plunged 161.41 points or 0.26% to 61,193.3. In sectoral indices, Bank Nifty dipped 39.4 points 0.09% to 43,312.7 and Nifty IT plunged 281.25 points or 1% to 27,743.75. The top gainers on Nifty 50 were Hindustan Unilever, Asian Paints, Tata Motors, UltraTech Cement and ITC while the top losers were Adani Enterprises, Adani Ports, ONGC, UPL and Bharti Airtel.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
“Nifty is trading near a crucial resistance of 18,200 and once surpassed will witness further short covering towards the 18,400 level. The downside support is at 18,000 where aggressive put writing is visible. The undertone remains bullish and one should keep a buy-on-dip approach,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.
“Some profit booking or a time consolidation cannot be ruled out before unfolding the next leg of the rally. Overall, Nifty’s undertone remains bullish, and the immediate base now shifts higher towards 18000 – 17900,” said Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One Ltd.
“We may see some consolidation citing caution ahead of the outcome of the US Fed meet however the tone is likely to remain positive so maintain the “buy on dips” approach,” said Ajit Mishra, VP-Technical Research, Religare Broking Ltd.
“The hourly momentum indicator has triggered a bearish crossover which indicates that there can be consolidation after a sharp runup. Overall, the positive outlook remains intact. In terms of levels, 18050–18000 shall act as a crucial support zone while 18180 – 18200 shall act as an immediate hurdle zone for the Nifty,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.
Nifty first support at 18173 and then 18143 while resistance seen at 18239 and 18277, according to Rahul Sharma, JM Financial.
In sectoral indices, Bank Nifty plunged 189.1 points or 0.44% to 43,163 and Nifty PSU Bank tumbled 45.9 points or 1.1% to 4,138.20.
The NSE Nifty 50 fell 65.6 points or 0.36% to 18,082.05 and BSE Sensex tanked 276.98 points or 0.45% to 61,077.73.
Nifty is likely to find support at around 17850. 18350 is likely to act as resistance. Bank Nifty is likely to find support at around 43000. 43900 is likely to act as resistance on the upside. – IIFL Securities.
The US market ended the overnight session in red– Dow Jones Industrial Average (DJIA) tanked 1.08%, S&P 500 plunged 1.16% and the tech-heavy Nasdaq tumbled 1.08%.
Asian markets were trading in red, with South Korea’s KOSPI falling 0.86% and Hong Kong’s Hang Seng tanking 1.65%. China’s Shanghai Composite Index and Japan’s Nikkei 225 remained closed on Wednesday.
The Nifty futures on the Singapore Exchange (SGX) were trading 81 points or 0.44% lower at 18,139.5 in today’s early morning trade.