The BSE Sensex and Nifty 50 are likely to open in the red on Thursday, the day of the weekly F&O expiry. Nifty futures were down 72 points, or 0.40%, at 17,905.50 on the Singapore Exchange. In the previous session, the S&P BSE Sensex closed 656 points or 1.08% lower at 60,098, while the broader NSE Nifty 50 closed 174 points or 0.96% lower at 17,938. Volatility could be the hallmark of trading today, analysts say. Sentiment continues to remain subdued after yesterday’s huge losses, and most importantly, the decline shows that the pretty bulls are vulnerable. “Technically, Nifty needs to hold above 17,900 in today’s trade for a meaningful recovery. Only above the nice 18,389 mark will the technicals turn positive and bullish. Nifty’s intraday resistance is at The 18187 mark. Or, if the Nifty falls below the 17900 mark, expect the sell-off to emerge,” said Prashant Tapse, vice president (research) at Mehta Equities.
Complete News Source : Financial Express
