Sensex Nifty saw top losers like Bajaj Finance, Bajaj Finserv, Nestle India, IndusInd Bank, and M&M, while gainers included Tech Mahindra, Divis Labs, LTIMindtree, Bajaj Auto, and BPCL.
Indian equity indices ended lower on April 26, ending a five-day gaining streak, with the Nifty falling below 22,400. The Sensex fell by 0.82% at 73,730.16, while the Nifty fell by 0.67%.
The market initially started positively, but lost all gains and traded in the negative zone for the rest of the day, closing near the day’s high. Top losers were Bajaj Finance, Bajaj Finserv, Nestle India, IndusInd Bank, M&M.
Sectors and stocks
The BSE midcap and smallcap indexes saw significant increases, with oil & gas, healthcare, realty, and media seeing a 0.3-1 percent increase. L&T Technology Services, Aditya Birla fashion, and SAIL experienced a volume spike of over 100%.
Tech Mahindra, GMR Airports Infrastructure, and Container Corporation of India experienced long build-ups, while L&T Technology Services, Bajaj Finance, and Bajaj Finserv experienced short build-ups. Over 250 stocks reached 52-week highs on the BSE, including Aegis Logistics, BHEL, Biocon, CG Power, Chambal Ferterlisers, Colgate Palmolive, Container Corporation, and others.
April 29 Forecast
The Nifty is facing selling pressure from the resistance zone of 22560 – 22625, with consolidation expected until it is resolved. Crucial support is at 22240 – 22200, with the 40-day moving average and 50% Fibonacci retracement level. Short-lived recovery from lows and divergence on momentum indicators may lead to consolidation.
The Nifty faced selling pressure as it failed to maintain above 22500, with a dark cloud cover pattern suggesting a bearish reversal. Support is at 22300, with 22500 potentially acting as technical resistance.
| FII Sold | -3,408.88 Cr |
| DII Bought | 4,356.83Â Cr |
Indian Market Stocks
| Sensex | -609.28 | –0.82% | 73,730.16 |
| Nifty 50 | -150.40 | –0.67% | 22,419.95 |
| Nifty Bank | -293.90 | -0.61% | 48,201.05 |
Market Movers
| Tech Mahindra | 88.45 7.43% | Bajaj Finance | -563.70 -7.73% |
| Divis Labs | 172.55 4.49% | Bajaj Finserv | -58.20 -3.52% |
| LTIMindtree | 153.35 3.31% | IndusInd Bank | -49.70 -3.32% |
| Bajaj Auto | 239.40 2.74% | Nestle | -79.90 -3.12% |
| BPCL | 6.05 1.00% | M&M | -51.95 -2.48% |
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Sensex Sensex Sensex
Sensex After four weeks of increases, Sensex and Nifty fell 2% for the first time After four weeks of increases, Sensex and Nifty fell 2% for the first time
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
The Nifty has experienced a decline, closing the day around 160 points lower. The daily charts show no follow-through buying interest after a breakout, and selling pressure at higher levels could lead to a slipping back into the consolidation zone. The Bollinger bands are contracting, indicating a range contraction. The Bank Nifty has not maintained positive momentum, and it could slip towards the 46900-46800 range. The overall trend is bullish, with an intermediate corrective phase in progress. Short-term weakness could lead to a decline towards the 22200-22250 range.
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