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The 30-share BSE Sensex closed down 220.05 points at 75170.45
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The 30-share BSE Sensex closed down 220.05 points at 75170.45
The chart formations indicated the exhaustion of bullish strength, which might attract a price-wise correction post-rally, experts believe.
After gyrating between gains and losses during the day, the 30-share BSE Sensex ended 0.29% lower at 75,170.45. Nifty formed a bearish candle on the daily scale. The index is trading above its key moving average supports and the RSI on the daily chart is positive.
Given the volatility, which hit a fresh two-year high at around 24 ahead of the mega event - Lok Sabha election results, the Nifty 50 index is likely to consolidate further with immediate support at 22,800 and then 22,600, whereas 23,000 is expected to be the hurdle on the higher side.
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