The Nifty index is in deep oversold territory

Published On: Wednesday, March 18, 2020 | By: Team KnowMyStock

Today (18th March), the index closed at 8,468, down 498 points or 5.56 percent and formed a long bearish candle on the daily chart. “The hurdle in the 9,100-9,150 range proved a key resistance during the day. Nifty’s near-term resistance now stands in the 8,800-9,000 zone. “The positive sentiment post-Friday's sharp recovery seems to have been nullified. Nifty moving below the low at 8,555 is not a positive sign. One may expect further weakness in the short term,” say experts. The index has been trading far below its key moving averages and the 14-day RSI at 14 suggests the index is in the deep oversold territory. Analysts do not rule out the index falling below the 8,000 level in the short term.

Closing Bell: Sensex gains 85 points, Nifty at 18755.90

Closing Bell:Sensex gains 418 points, Nifty at 18716.15

MARKET UPDATE: Sensex rose 135 points to 62761, and the NSE Nifty50 moved 40 points higher to 18,600

Closing Bell: Sensex down 223 points, Nifty at 18,563

MARKET UPDATE: Sensex surged over 100 points to trade around 62,962 levels, whereas Nifty50 climbed over 30 points to trade above 18,650 levels

MARKET UPDATE: Sensex gained over 50 points to trade around 63,228 levels, whereas Nifty50 traded marginally above 18,700 levels

MARKET UPDATE: Sensex surged over 150 points to trade around 62,988 levels, whereas Nifty50 gained over 50 points to trade above 18,650 levels

MARKET UPDATE: Sensex traded flat at 62,777 levels, whereas Nifty50 was flat above 18,600 levels

Closing Bell: Sensex up 240 points, Nifty at 18593.85

MARKET UPDATE: Sensex rallied over 300 points, whereas Nifty50 gained over 50 points to trade above 18,600 levels

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