Stock Market Today: On account of massive rise in fresh Covid cases on Wednesday, the Indian stock market is expected to witness sharp downside trends when the market opens today after a one day gap of Ramnavmi holiday.
Speaking on how stock market will behave in opening bell today Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, “On Tuesday, Nifty opened on an upside gap of 169 points and started to show intraday weakness from the day’s high since opening.
Shetty went on to add that Nifty has been showing lack of strength to sustain the highs recently and we observe a formation of consistent lower highs and repeated testing of lower 14,200 supports.
“The lack of strength to sustain the highs continued in the market and the Nifty is now placed at the crucial support juncture of around 14,200 to 14,150.