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Sensex tanks, closes in red, Nifty ends at 15,686; here’s what experts make of today’s trade

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stock market todaySensex, Nifty closed within the pink in the present day.
(Picture: REUTERS)

Home inventory markets closed within the pink on Wednesday. On the closing bell, Sensex was at 52,306 whereas the 50-stock NSE Nifty was at 15,686. Maruti Suzuki India as soon as once more ended as the highest Sensex gainer surging 2.29%, adopted by Titan Company and Bajaj Finserv. Solely 8 of the 30 Sensex constituents ended within the inexperienced. Among the many worst performers had been Larsen & Toubro, Kotak Mahindra Bank, Tata Steel, and HDFC. Broader markets mirrored the benchmarks and closed within the pink. India VIX surged 4%.

Shrikant Chouhan, Government Vice President, Fairness Technical Analysis at Kotak Securities-

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“The market witnessed a curler coaster journey, because it opened larger however misplaced momentum thereafter to shut on the lowest level of the day. This might be because of the month-to-month & quarterly F&O contracts expiry and the AGM of Reliance Industries on Thursday. India Vix jumped and the Nifty/Sensex settled on the assist of the 20-day SMA, which is at 15670/52250. The Nifty/Sensex was anticipated to search out assist between 15670/52300 and 15700/52400 levles however volatility was unimaginable. On Thursday, the markets can be a buying and selling vary of 15800/52800 and 15550/51700 ranges. Beneath 15670/52250, the Nifty/Sensex would rapidly drop to the extent of 15550/51700. Alternatively, if the Nifty/Sensex trades above 15670/52250, then the market would transfer to the extent of 15800/52800. One must be a degree based mostly dealer.”

Nagaraj Shetti, Technical Analysis Analyst, HDFC Securities –

“The quick time period pattern of Nifty is weak with vary certain motion. The general market breadth and broad market indices are displaying resilience in comparison with benchmark Nifty. The current weak spot is predicted to be over within the subsequent 1-2 classes and the market might bounce up once more from the lows. Speedy assist is positioned at 15600 ranges.”

Ajit Mishra, VP – Analysis, Religare Broking –

“Markets traded lacklustre and misplaced practically half a %, in absence of any main set off. Agency international cues triggered an upbeat begin but it surely couldn’t maintain for lengthy and progressively drifted decrease because the day progressed. We’re at the moment seeing a time-wise correction out there and it’s more likely to finish quickly. The scheduled month-to-month expiry of the June month contracts mixed with AGM of index heavyweight, Reliance, will preserve the individuals busy on Thursday i.e. June 24. We reiterate our recommendation to proceed with the “purchase on dips” strategy till we see some signal of exhaustion or pattern reversal.”

Vinod Nair, Head of Analysis at Geojit Financial Services

“Consolidation continued as lack of key triggers within the home market and flight of overseas funds influenced buyers to remain on the side-line. International markets stay combined as FED’s reassurance on a gradual tempo in charges hike didn’t get momentum out there. All of the sectors traded in pink barring auto as all main producers selected a value hike. Easing lockdown restrictions and decide up in vaccination drive will assist financial exercise, which is more likely to be seen within the second half of the monetary 12 months.”

Rohit Singre, Senior Technical Analyst at LKP Securities

“Index once more confirmed some revenue reserving from its good hurdle zone and closed a day at 15687 with lack of half a per cent forming a bearish candle for second consecutive candle. On the hourly based mostly chart its appear index is info of the double prime which is able to get energetic under the 15500 zone so going forwards fast helps are coming close to 15600-15500 zone under 15500 we might even see good promoting strain in order that would be the remaining cease out degree for nifty, recent transfer attainable solely shut above 15900 zone.”

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