The key benchmark indices broke respective psychological levels in trade today(28th Oct.2021) amid heavy broad-based sell-off. While the Sensex closed 1,158 points lower at 59,985, the Nifty lost 354 points to end the day at 17,857 levels. At the end of the day, the Nifty has slipped below its 20-DMA, which has opened the door for further downside, technical analysts said.
"Relentless selling by FIIs is a key reason for this correction in the market. The next support level for the Nifty is around 17,650 level. Below this, 17,450-17,250 will be the next support zone. On the upside, 18,150-18,300 has become an immediate supply zone," said Santosh Meena, head of research at Swastika Investment.
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