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HomeUncategorizedOn the Brink: Market Inches Closer to Record High Despite Ongoing Volatility

On the Brink: Market Inches Closer to Record High Despite Ongoing Volatility

On The BSE, midcap index reached a new record high of 0.6%, while the smallcap index rose by 1%.

The Indian market ended on the flat note on April 3, with the Sensex down 27.09 points and the Nifty down 18.6 points. The market opened on the negative note but erased losses in the initial hours and inched closer to record highs.

Major gainers on the Nifty included Shriram Finance, NTPC, TCS, Axis Bank, and Tech Mahindra, while losers included Nestle India, Bajaj Auto, Kotak Mahindra Bank, Britannia Industries, and Dr Reddy’s Laboratories. Sectoral indices saw a 2.5 percent drop in Realty and a 0.4% slip in Auto.

Sectors and stocks

The Realty index fell 2.5 percent and the Auto index slipped 0.4%, while Power, PSU Bank, Information Technology, and Media indices rose 1% each.

Netale, PNB, and Escorts saw a 300 percent volume spike, while PNB, Laurus Lab, and Manappuram Finance experienced a long build-up.

April 03 Forecast

The Nifty remained volatile on the negative global cues, but overall sentiment remains robust as the index maintains above key moving averages. The Relative Strength Index suggests a bullish trend towards 22,650, with support at 22,350.

The Nifty closed the day slightly down, despite a slight red flag. The Nifty has been experiencing consolidation for the past three trading sessions, with the momentum setup on the daily and hourly tie frame indicating a near-term consolidation. The downside zone of 22400-22350 acts as a support zone, while 22500-22530 is the immediate hurdle zone. A breach on either side could lead to a trending move. The Bank Nifty closed the day in the green, with the zone of 47300-47250 acting as a crucial support zone.

FII Sold-2,213.56 Cr
DII Bought 1,102.41 Cr
as per last trading session

Indian Market Stocks

Sensex-27.09-0.04%73876.11
Nifty 50-18.65-0.08%22,434.65
Nifty Bank78.800.17%47,624.25
as per closing Bell

Market Movers

Shriram Finance90.50 3.67%Nestle-69.35 -2.64%
NTPC6.45 1.87%Bajaj Auto-195.65 -2.11%
Divis Labs62.40 1.72%Dr Reddys Labs-113.15 -1.81%
TCS63.50 1.63%Kotak Mahindra-26.25 -1.49%
Axis Bank16.05 1.53%Britannia-65.35 -1.33%
as per closing Bell

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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.

Red Alert Red Alert Red Alert Red Alert Red Alert Red Alert Red Alert Red Alert

Record High Record High Record High Record High Record High Record HighrRRecord HighRecord Highecord Highockets

Market Rally Halts Market Rally Halts Market Rally Halts Market Rally Halts

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