Taking Stock: Nifty at 24,200, Sensex falls 836 points; all eyes on FOMC outcome

All the sectoral indices ended in the red with auto, metal, power, telecom, pharma, realty down 1-2 percent.

BSE Midcap and smallcap indices shed 0.5 percent each.

More than 240 stocks touched their 52-week high on the BSE, including, Apollo Hospitals, Caplin Labs, City Union Bank, Coforge, Coromandel International, DCM Shriram, Deepak Fertilisers, eClerx Services, Federal Bank, Firstsource Solustions, Jubilant Pharmova, Kaynes Technologies, KEC International, Oberoi Realty, Persistent Systems, Welspun Corp, among others. Click To View More

Outlook for November 8

Aditya Gaggar Director of Progressive Shares

Diverging from strong global equities, Indian markets started the weekly expiry trade on a tepid note and a sudden fall was seen in the opening trade followed by a range-bound trade before ending the session at 24,199.35 with a loss of 284.70 points.

Barring PSU Banks, all the other sectors ended the day in red with Metal and Pharma being the major laggards.

On the daily chart, the Index has formed a bearish engulfing pattern but it appears that it is forming a right shoulder of an Inverted Head & Shoulder formation with a neckline being placed at 24,500 which is also immediate resistance while on the lower side, psychological level of 24,000 will serve as a support.

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