Market today:The market witnessed profit-booking for the second consecutive day today. Sensex and Nifty closed down 1 per cent today i.e. on January 19, amid weak global cues and a boil in crude prices. Today the market started with weakness and as the trading session progressed, the weakness also increased and finally closed at the low level of the day. At the end of trading, the Sensex closed at 60,098.82 with a fall of 656.04 points, or 1.08 per cent. On the other hand, Nifty closed at 17,938.40, down 174.65 points or 0.96 per cent.
Vinod Nair of Geojit Financial Services It said rising inflation and consequent rise in bond yields, rising geopolitical tensions in the Middle East and the resulting sharp jump in crude oil prices hurt the market sentiment. Apart from this, selling of FIIs also spoiled the mood of the market.
technical view
Motilal Oswal’s Chandan Tapadiya Says Nifty formed Bearish Candle on Daily Scale today and rejected Higher Highs formation of last 8 trading sessions. As long as Nifty remains below 18000 then weakness will remain in it and it can go towards 17850 and then 17777. On the upside, the resistance is visible for it at 18081 and 18200.
How will the market be tomorrow?
Rahul Sharma of Equity 99 It is said that today there was a decline in the market for the second consecutive day. The market saw a 1 per cent fall after US bond yields hit a two-month high. In the next 2 weeks also we will see weakness in the market. Investors are advised to adopt the strategy of buying in the downside by following the stoploss. It is expected that till the budget session, there will be huge volatility in the market. Keeping this in mind, it is advisable not to overtrade in the current situation. The level of 17,880 will be the immediate support level for Nifty. If this support breaks down, then we can see Nifty moving towards 17,765. On the other hand, there will be a resistance for Nifty at 17980 for the above. Once this level is broken, we can see Nifty moving towards 18075-18200.
NSE is the world’s largest derivatives exchange for the third consecutive year, know what happened in the second segment
Mohit Nigam of Hem Securities It is said that the market started with a fall today. The effect of the weakness of the global markets was also visible on the Indian markets and the end of today’s trading was in the red mark. Now resistance is visible for Nifty at 18,300. On the downside, support is visible at 17700. Whereas for Bank Nifty, resistance is seen at 38500 and support at 37500.
Shrikant Chauhan of Kotak Securities It says that if Nifty closes below 18000 then it will be big negative news for the market. The level of 17960 will be very important for the bulls, which should be watched. If Nifty crosses this level, then we can see it moving towards 18,000-18,050. On the other hand, if the Nifty slips below 17900, we can see the Nifty touching the level of 17,850-17,820.
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