Sunday, March 26th, 2023

Market starts on decline, Sensex falls 115 points to open at 60,8111, Nifty above 18,000

Stock Market Opening: Due to the indications of pre-opening, today’s beginning of the stock market seemed to be in the red mark only. Nasdaq closed with a fall in the American markets last night and mixed business is being seen in the Asian markets this morning. Today Hangseng is trading with a decline and Taiwan’s market is seeing a decline.

At what levels the stock market opened today

Today’s trading has started with a downfall. In the stock market, the BSE’s 30-share index Sensex opened at 60,811.52, down 115.91 points, or 0.19 percent. On the other hand, the NSE’s 50-share index Nifty opened at 18,084.75 with a weakness of 47.55 points, or 0.26 per cent.

Condition of Sensex and Nifty shares

Out of 30 Sensex stocks, 16 stocks are trading with a fall and the remaining 14 stocks are trading with a fall. There is a decline in 17 out of 50 stocks of Nifty and red mark of weakness dominates in 31 stocks. 2 stocks are trading without any change.

Which stocks are booming

If we look at the Sensex stocks, today Powergrid, NTPC, Titan, Asian Paints, HDFC, M&M, IndusInd Bank, L&T, Sun Pharma, Maruti and Bajaj Finance are trading with a boom.

Which stocks are in decline

If you look at the top five falling stocks of Nifty, ONGC, TCS, Infosys, BPCL and Bajaj Finserv are seen falling between 0.90 per cent to 0.75 per cent.

How was the pre-opening of the market

Nifty and Sensex are trading in the red mark today in the market pre-opening of the stock market. BSE Sensex down by 155.44 points i.e. 0.26 percent
Was visible at the level of 60771.99. Apart from this, the Nifty of NSE is trading at the level of 18075.85 with a decline of 56.45 points i.e. 0.31 percent.

SGX Nifty move

This morning, the decline in SGX Nifty was more and it was trading after breaking more than 80 points. If seen on the basis of this, the market has not started on such a decline and despite the absence of any supporting signal from the global markets for the stock market, it looked stable.

What is the trading strategy for the market today

Dr. Ravi Singh, VP Head of Research, Share India, says that after the opening of the stock market today between the levels of 18100-18150, the day’s trading is expected to remain between the levels of 17900-18200. Today, only a downward trend is being created for the market. If we look at the strong sectors for the market, then a rise can be seen in Metal, PSU Bank, Realty, Media, Energy. At the same time, a decline can be seen in FMCG, Pharma, Bank, Financial Services and Auto sectors.

trading strategy for nifty

To buy: Buy above 18200, target 18280, stoploss 18150

For Sell: Sell below 18000, Target 17920, Stoploss 18050

Support 1-18015
Support 2 17900
Resistance 1-18200
Resistance 2-18265

Expert opinion on Bank Nifty

Dr. Ravi Singh of Share India says that after opening between 42750-42800 levels in Bank Nifty today, trade can be seen between 42400-43000. For today only the outlook of decline is visible.

Trading Strategy for Bank Nifty

To buy: Buy above 43000, target 43200, stoploss 42900

For Sell: Sell below 42600, target 42400, stoploss 42700

Support 1- 42526
Support 2- 42195
Resistance 1- 43060
Resistance 2- 43260

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