Stock Markets on Monday: FII selling, US market corrections remain a pain point for domestic equities; Anil Singhvi gives triggers, crucial Nifty50, Bank Nifty levels
Startegy on Nifty50 - Singhi said that the next support level is 17,400 and 17,474 are the next support levels for the 5-share index. The resistance will be between 17,800 and 17,875
The Indian stock markets ended on a negative note on Friday. This was the fourth straight correction seen during the week gone by. While the BSE Sensex ended at 59,037.18, down by 427 points or 0.7 per cent from the Thursday closing level, the broader market Nifty50 settled at 17,617.15, down by 140 points ot almosy 0.8 per cent.
Stocks in the banking, IT, finance and metal sectors created pressure on the stock markets. Sensex and Nifty50 fell around 4 per cent over the week.
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Watch Full Report Here:On Wall Street, the Dow Jones Industrial Average slid 1.30%, the S&P 500 fell 1.89% and the Nasdaq Composite lost 2.72%. Both the S&P 500 and the Nasdaq posted their biggest weekly declines since the market crashed in March 2020, Reuters reported.
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