Things are going from bad to worse on Dalal street. After a quiet first half, the markets went into a free fall mode, plunging through crucial support zones. The Nifty tested the 5,450 mark, before closing marginally above it. The Sensex cracked close to 260 points and closed at 18,210.
The 30-share BSE Sensex dropped 258.78 points or 1.40%, to close at 18,210.58 and the 50-share NSE Nifty closed below the 5500 mark for first time since March 23, down 77.30 points or 1.40% to 5,459.85. How to approach market now? Rahul Mohindar, viratechindia.com is concerned that the downtrend is here to stay and it is poised to test as low as 5300. Sandip Sabharwal, CEO-Portfolio Management Services, Prabhudas Lilladher also agrees that that market may retest February lows, which was around 5,200-5300 Nifty, at which level the risk to upside and downside will be balanced in a short run. However, Sabharwal sees this as a good opportunity for the long run.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
