Market Trend: The Indian stock market closed down with a huge decline today after Monday’s huge rise. The Sensex fell around 1,282 points (about 1.5%) to close to close to 81,148, while the Nifty 50 index fell around 346 points (1.39%) to close at 24,578. Legendary companies such as Infosys declined by more than 3 per cent, which broke over 2.42 per cent. Today, there was a major decline in financial and FMCG stocks. The main reason for this decline was due to the vigilance of investors after profits and rapid surge. Also showed pressure on the market due to mixed corporate results and global signals.
Defensive sectors like government banks and pharma were strengthened. Some stocks like India Electronics and Hindustan Aeronautics increased by 3-7 percent. This reflects interest in defense shares amidst geopolitical stress. Further investors will be on inflation figures and quarterly results. Voltyness is expected to remain in the market, but the trend of overall boom remains intact.
Nagraj Shetty of HDFC Securities It is said that today there has been a negative candle formation on the daily chart which is next to the long bullish candle of the previous season. Tuesday’s weakness has reduced the huge lead on Monday. The upside breakout of May 12 is still intact and the Nifty is currently located at the support level of 24600-24500.
The fast trend for the short term remains intact and in the next few sessions, the Nifty is expected to bounce with a significant support of 24500-24400. The immediate resistance for Nifty is visible at the level of 24800.
Head-equity research of Kotak Securities Shrikant Chauhan Says that technically, after a slow start, the market faced continuous selling pressure at the upper levels. On the daily chart, the Nifty has created a bearish candle which is a sign of temporary weakness. However, the market’s short -term position is still positive. Important support is visible for traders at 24,500/81000 and 24,450/80800. If the market is successful in trading above these levels, then it can again achieve the level of 24,800-24,900/81800-82000. On the other hand, the rapid trend will weaken when going below 24,450/80800. If the market falls below this level, traders can be seen coming out of their long positions.
LKP Securities Senior Technical Analyst Metapors Day Says that the market declined due to short -term profit booking from the traders. However, despite some profits that occurred after a recent fast lead, trend is likely to be positive in the near future. The Nifty is continuing to trade above the short term moving average, which is a sign of rapid trade. Apart from this, the Nifty remains above the previous Consolidation Zone. The short term may appear to be moving upwards with the possibility of reaching 25,350 in the short term. There is support at 24,400 for this at the bottom. As long as the Nifty remains above this level, the shopping strategy on the decline will be better.
SVP, Research Ajit Mishra of Railways Broking Says that after the brilliant start of the week yesterday, the market today breathed a sigh of relief and the trading session ended with more than one percent decline. Today’s decline in the market is a sign of a sense of vigilance in the market despite low-political stress decreasing and strong global signals. Now the Nifty has strong support of 24,400-24,600. Overall market trend of expectation will be positive. Our focal should be on identifying good sectors and themes. Find a chance to shop in good shares in a correction.
Top Stock Picks: Defense shares will continue to rise, HDFC Bank, ICICI Bank and SBI scope of boom in the rapid scope – Anand Tandon
Vinod Nair, research head of Geojit Investments It is said that after yesterday’s rapid rise, the domestic market saw profits. This consolidation is mainly affecting large-cap shares, while mid-cap and small-cap shares continue to rise. This difference is expected to continue further.
He further said that the financial year 2026 earning growth is expected to be good. The market could support the government’s favorable fiscal and monetary policies, external demands, the possibility of good monsoon and the possibility of fall in inflation and interest rates. All these factor are indicating that midcaps can be seen doing better in the coming quarters.
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