After showing a sharp reversal on the downside on Monday, Nifty continued to slide down on Tuesday amid high volatility and closed the day lower by 120 points. A small negative candle was formed on the daily chart with minor upper and lower shadow. Technically, analysts say this market action echoes ongoing volatility in the market.
STATE OF THE MARKETS
- Tech View: In the short term, the trend may remain weak with a possible decline towards 25,615/25,535. Resistance is placed at 25,970–26,000.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 1.55% to settle at 10.95 levels.
Stocks in F&O ban today
Sammaan Capital
Bandhan BankSecurities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.
FII/DII action
Foreign portfolio investors net sold shares worth Rs 3,760 crore on Tuesday. DIIs, meanwhile, were net buyers at Rs 6,225 crore.
Rupee
The rupee pared its initial losses and settled for the day in the positive territory, up 18 paise at 89.87 against the US dollar on Tuesday, as American currency and crude oil prices retreated from their elevated levels.
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