Indian stock market witnesses substantial downturn, Sensex falls 736 points
On Tuesday, March 19, the Indian stock market experienced a significant downturn, causing a substantial decrease in investors’ assets. The Sensex fell by 736 points, or 1.01 per cent, to close at 72,012.05, while the Nifty 50 ended the day at 21,817.45, down 238 points, or 1.08 per cent.
Experts’ outlook on the market
Rupak De, Senior Technical Analyst at LKP Securities, highlighted that the Nifty has broken down from the rising wedge pattern on the daily chart, indicating a potential reversal of the uptrend. He also mentioned that the Bank Nifty experienced sideways trading, with key levels to watch at 46000 and 47000.
Siddhartha Khemka, Head of Retail Research at Motilal Oswal, noted that Nifty fell below key support levels, signaling potential weakness in the coming days. He also mentioned that investors are cautious due to global central bank meetings and the US Fed meeting.
Call Put Option data and day trading stocks
Chinmay Barve, Head of Technical and Derivative Research at Profitmart Securities, provided insights on the Nifty and Bank Nifty Call Put Option data, highlighting key levels and open interests. Additionally, stock market experts recommended buy or sell stocks for the day, including RHI Magnesita India, Polyplex, Delhivery, Sun Pharma, TVS Motor, Mazagon Dock Shipbuilders, Carborundum Universal, KPR Mill, and Indusind Bank.
Disclaimer: The views and recommendations mentioned are those of individual analysts and experts, and investors are advised to consult certified experts before making any investment decisions.
Overall, the Indian stock market faced a substantial downturn on March 19, with experts providing insights on market trends, key levels to watch, and recommended stocks for day trading. Investors are advised to stay informed and exercise caution in their investment decisions.
