Index fell after the worsening of the Covid situation in China and a sudden surge of cases in the United States, Korea, Brazil, and Japan.
India VIX increased by 13%. ⚠️
🆘Nifty 50 (-1.01%) -1.71% Bank Nifty
Nifty 50: ✔️
The Nifty opened positively, but the bulls were unable to hold the 18450 level. It almost tumbled 311 points from today's high, a 1.69% slip and the single largest slip since December 1st from the day's high. A negative crossover has been observed between the 20 DMA and the 50 DMA on the 15-minute time frame.
Technically, the Nifty will continue to trade sideways until it breaks above 18540. (Key Level)
Bank Nifty : ✔️
Bank Nifty opened positively, but the bulls were unable to retain the 43600 level. It almost slumped 1255 points from today's high, a 2.88% drop and the single largest decline from the day's high since December 1st. On the 15-minute time frame, a negative crossover was observed between the 20 DMA and the 50 DMA. 41950 is a major support level for the Bank Nifty.
Technically, the Bank Nifty will remain sideways until it breaks above 43850. (Key Level)