After the announcement of Prime Minister Narendra Modi, 21-day lockdown starting from midnight on Tuesday, which can remain investor sentiment on the edge. The Indian Benchmark indices opened on a gap down note at 7735.15 down by 65.90 points while Sensex is opened at 26499.81 decline by 174.22 points. Nifty will continue its bearish momentum in upcoming trading sessions. Immediate support levels for Nifty are placed at 7400 and 6900. On hourly chart, it is sustaining below 50 days and 100 days moving averages. The overall market breadth is tilted in the favor of sellers as 1048 stocks are declined and 491 shares are advanced. Among sectors, all the sectors are trading under pressure with Media and PSU Bank down by almost 3 percent . The RSI is trading at 40.73 level with no sign of divergence. On account of Gudhipadwa, the Indian currency market remains shut today.
Niftybank: It is opened on a negative note 16759.95 down by 347.35 points. Currently it is trading at 16774.55 down by almost 2 percent and made a low of 16723.00. The immediate support levels are placed at 16250 and 15700 respectively.
Stocks in Limelight:
YESBANK: The company ratings are upgraded by ICRA and placed it on rating watch with some developing implications.
TORRENT PHARMA: The company fully repaid secured redeemable NCDs of Rs 240 crore.
RALLIS INDIA: Due to outbreak of Coronavirus the company has shut its manufacturing operations at some plants.