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Nifty 50 closed lower due to state-run banks, while S&P BSE Sensex closed slightly higher. Analysts suggest selling if Nifty breaches 22348 or rises to 22570-22620. US markets rose on Fed rate cut hopes.
Kothari, DVP, who has around 15 years of work experience in technical research, is bullish on Balrampur Chini Mills and DCM Shriram for the coming week.
Sensex declined over 900 points and the Nifty over 240 points
Eight out of 13 major sectoral indices were up with Nifty Metal, Nifty Energy, and Nifty Auto seeing the maximum gains
But some investors might be tempted to consider selling this time as the general elections are feared to induce sharp swings in equities. Investors are also growing nervous about the US Federal Reserve delaying interest rate cuts as expected by the financial markets.