The S&P BSE Sensex has seen a sharp decrease, as less than 74,000 signs decreased. Continuous sale pressure is intensified across the main sectors, which raised fears with more negative movement that looks very possible. The big question remains: Is this an opportunity to buy or will the recession continue?
Why Sensex falls?
Sensex Spenturen is moved with a mixture of global and local opposite winds, such as foreign institutional investors (FIIS) who withdraw money, adding pressure on a already fragile market.
Global uncertainty, especially weak feelings in the American market, has increased investor confidence in India, making stocks less attractive. Meanwhile, the main sectors such as banking services, information technology and cars also decreased, which increased the pressure pressure.
In addition to discomfort are concerns related to the interest rate, with expectations that high rates are continuous, which leads investors towards the safest assets and reduce the appetite of risk. Although the market correction was severe, some analysts determine a positive aspect, highlighting the basic technical thresholds that may lead to a brief recovery if buyers enter in a timely manner.
Sensex Planning Analysis: Keys to watch
Support levels:
- 73,198 – Immediate support.
- 71,901 – critical level
- 70294 – Psychological Support
Resistance levels:
- 74,296-first obstacles to any short-term recovery.
- 75,685 – The collapse above this level will indicate a renewed upward strength.
What is the following for Sensex?
With excessive signal conditions in RSI, artistic recovery may be possible in the short term. However, the broader trend is still weak, and the additional downside cannot be excluded if global feelings remain cautious and Fiis continues to sell.
Investors must monitor the main support and resistance levels, as well as the developments of the macroeconomic, to determine the direction of the next market.
