26 Jul , 2022 By : Monika Singh
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic headline indices remained in the grip of bears with Sensex and Nifty falling on Tuesday’s opening bell. S&P BSE Sensex was down more than 250 points or 0.49%, giving up 55,500 while NSE Nifty 50 index was below 15550, falling 0.50%. Bank Nifty was also down in the red while India VIX regained 18 levels. Bajaj Finserv was up 2.45% as the top Sensex gainer, followed by Tata Steel, and Reliance Industries. Dr Reddy’s was down 2.35%, accompanied by Nestle India, and Asian Paints.
OPENING BELL
Sensex and Nifty started Tuesday's trading session with losses. Sensex was down more than 150 points or 0.35% while Nifty 50 dropped 66 points or 0.40% and slipped below 16600.
“The dark cloud on the global economic horizon is the threat of an imminent US recession impacting global economic growth. The jury is still out on whether the US slips into a recession or not. But a global growth slowdown appears inevitable. Wall Mart's profit warning issued yesterday is an indication of the difficult days ahead for corporate earnings. Europe is the weakest geographical space in the world and China is struggling. Even though the Indian economy is resilient now, global growth slowdown will impact India too. This means, from the fundamental perspective, there is a limit to market upside. The 1400 point rally in Nifty from its June lows has again stretched market valuations. Therefore, FIIs might again turn sellers to rallies,”
“Short if Nifty breaks 16565for downside target of 16485 and 16360. Long only if we cross 16700. Bank Nifty is relatively stronger with supports placed at 36470, 36300, and 36750,”
“The short-term uptrend of Nifty seems to have reversed down from near the important resistance of 16800 levels. The overall chart pattern indicate further weakness down to 16350-16300 levels in the next few sessions. Intraday resistance to be watched at 16700 levels,”
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