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HomeLatest NewsIndian NewsRed Day on Dalal Street: Sensex Registers 354-Point Loss, Nifty Struggles Below...

Red Day on Dalal Street: Sensex Registers 354-Point Loss, Nifty Struggles Below 21,800 Mark.

Red Day

Tata Motors, Coal India, BPCL, Sun Pharma, and Cipla gained, while UPL, Bharti Airtel, Bajaj Finance, HDFC Life, and Grasim Industries lost.

As investors awaited the RBI meet for rate signals and inflation trajectory, Indian equities benchmarks fell in a tumultuous session on February 5.

After opening in the green on strong global cues, the market stayed range bound with a bullish tilt in early trade, but last-hour selling erased all gains, with the Sensex and Nifty ending at the day’s low

The Sensex fell 354.21 points (0.49 percent) to 71,731.42, and the Nifty down 82.10 points (0.38 percent) to 21,771.70.

UPL, Bharti Airtel, Bajaj Finance, HDFC Life, and Grasim Industries were Nifty losers, while Tata Motors, Coal India, BPCL, Sun Pharma, and Cipla gained.

Bank, capital goods, IT, and FMCG fell 0.3-0.9 percent, while auto, pharma, metal, oil & gas, and realty rose 1 percent apiece.

The BSE midcap and smallcap indices closed flat.

Individual equities including Ipca Laboratories, UPL, and Lupin saw volume spikes above 200 percent.

UPL, Shree Cements, and Aurobindo Pharma built up short, while IOC, Tata Motors, and MCX built up long.

Confidence Petroleum, Entertainment Network India, Everest Kanto, Fino Payments, General Insurance Corporation of India, GlaxoSmithKline Pharmaceuticals, Hathway Cable, Hitachi Energy, IDBI Bank, IOB, Jindal Worldwide, Lupin, Mahindra Life, Mishtann Foods, MMTC, New India Assurance, Phoenix Mills, Punjab & Sind Bank, Redington, SAIL, SJVN, Torrent Pharma, Torrent Power, Tourism Finance, UCO Bank, and more than 500 BSE stocks reached 52-

February 6 forecast

The Nifty started positively but experienced selling pressure, ending the day down ~82 points. The Nifty has seen follow-through selling pressure from 22000 on daily charts. The hourly momentum indicator showed a negative divergence, indicating upside momentum loss. Range-bound trading is expected to persist until we see a decisive closure below 22000–21200.

Divergent momentum indications on the daily and hourly time frames predict sideways price activity. Thus, factors indicate consolidation will continue. Stock-specific action and sector rotation may continue throughout consolidation. Important support levels are 21640–21600 and immediate obstacle zone is 21950–22000.

Selling pressure from the previous session continued on Bank Nifty. It fell below critical averages, signaling weakness. The trend is horizontal, and consolidation is probable between 45000 and 47000.

The Index ranged after starting the week around 21,920. The Index fell 82.10 points to 21,771.70 after a sharp dip in the past session. FMCG lagged as leading Pharma stocks led the Index to the day’s best gain. Auto and Energy gained over 1% each, continuing their upswing.

After the Shooting Star candle, the Bearish Engulfing candle formed, indicating strong opposition at higher levels. The upside is restricted at 21,960, while 21,640-21,700 will act as firm support. It is too early to predict if the Index breaks the support zone, the correction may extend to 21,350 to form a Bullish Cypher pattern.

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FII Bought 70.69  Cr
DII Bought2,463.16 Cr
as per last trading session

Indian Market Stocks

Sensex-354.21-0.49%71,731.42
Nifty 50-82.10-0.38%21,771.70
Bank Nifty-145.40-0.32%45,825.55
as per closing Bell

Market Movers

Tata Motors48.05 5.47%UPL-59.65 -11.18%
Coal India20.45 4.87%Bajaj Finance-240.10 -3.51%
Sun Pharma47.15 3.33%Bharti Airtel-37.25 -3.24%
Cipla41.25 2.96%HDFC Life-15.45 -2.67%
BPCL16.40 2.94%Grasim-49.70 -2.32%
as per closing Bell

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