Nifty and Sensex continued a downward trend for the 4th consecutive day. However, a slight upward growth was seen today, i.e. 18th April at noon.
The Sensex and Nifty lost their early gains and went down on April 18 as buyers took their profits. Toward the end of the trade session, consumer, pharmaceutical, and banking stocks all started to lose value. Experts in the market think that the bearish trend will continue over the next few days as investors deal with the Middle East’s unstable political situation, high bond yields, and the start of earnings season for companies.
Sensex was down Sensex was down at 454.69 points while Nifty declined to 152.10 points. Around 1,852 shares went up, 1,809 shares went down, and 120 shares stayed the same. This meant that the market was broadly positive.
Nifty and Sensex Down- What do Analysts Predict?
Analysts at ICICI Securities think that as earnings season speeds up, there will be movement in certain stocks. “Key support for Nifty is placed around 21,900, while life-highs of 22,800 will remain key resistance,” they added.
“The technical picture shows that the price is naturally weak, and the 22,000 mark is close to the bears.” For now, a clear break below the 50 DEMA could make the chart structure even less stable. “The last chance for the bulls to make a comeback is to see 22,000 followed by the previous swing closure around 21,800,” he said.
On April 18, broad markets had a mixed trend. The BSE Midcap index went down 0.4%, while the BSE Smallcap index went up a little. The India VIX, which shows how volatile the market will be in the next few months, went up by 2% to 12.88.
Read more- Why the market is crashing?
Sector-wise, the Nifty Media index did the best, rising more than 1%. It was followed by the Nifty IT and Nifty Metal indices, which also rose. On the other hand, the Nifty Healthcare index fell more than 1%, making it the biggest loser.
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