S&P BSE Sensex tanked nearly 800 points on the opening bell to give up 58000 mark while Nifty 50 was down more than 200 points, hovering around 17300.
Tarsons Products shares rallied sharply on Friday, minutes after having made a tepid debut on the stock exchanges.
The upside is capped by multiple levels of resistance, the most important one being 17600,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.
The stock began trading at Rs 700 per share, up Rs 38 or 5.74% from the upper end of the IPO price band of Rs 662 apiece.
Looking at option data, the Bank Nifty’s immediate hurdle on the higher side is 37500 as that Call strike holds meaningful OI.
All 30 Sensex constituents were down with losses on Friday morning.
On November 25, 2021, Foreign institutional investors have done net selling worth Rs 2,300.65 crore, while domestic institutional investors have done net buying worth Rs 1,367.80 crore in the Indian equity market.
Asian stocks suffered their sharpest drop in two months on Friday after the detection of a new and possibly vaccine-resistant coronavirus variant sent investors scurrying toward the safety of bonds, the yen and the dollar.
“A close in the green should bode well for the bulls as it would indicate reversal on the weekly charts.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The prices of petrol and diesel have now been left unchanged for the 22nd consecutive day now.
Overall short term trend in Nifty is weak and traders are suggested not to initiate new longs in current markets,” said Gaurav Udani, CEO & Founder, ThincRedBlu Securities.
SGX Nifty was deep down in red on Friday morning, signalling a weak start for domestic indices on the final trading session of the week.
Investors would track covid situation in Europe and would await India’s GDP data due next week for market direction,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.
At the same time lower levels buying is expected on any dips,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.