Indian benchmark indices erased all its morning gains and closed 48.35 points down at 11126.40 while Sensex is down by 141.33 points at 37531.98. A steep fall was seen in index when it breaches its major support level of 11180. The further support levels for nifty is 11050 and 11000. On hourly scale, nifty is continuing to sustain below 50DMA and 200DMA. Index may reach the level of 11000 as overall market breadth is looking negative for upcoming trading session as seller are active from higher levels. Among sectors, metal , auto, pharma and IT are under pressure while banking is closed at green. The India VIX , which measures the implied volatility of Nifty 50 was up by 1.57% at 17.85.
Nifty Bank: At the day end, Nifty bank is closed at 27767.55. The major support levels are 28120 and 27400 respectively. It is sustaining below 50DMA and 200DMA. The RSI is trading at 39.95 level.