Closing Update:- Reliance sees a sharp surge from lows, Indigo Confirms interest in Virgin Australia. BEL Top Gainer while RCF Top Loser, Nifty Still Hovering below 20DMA and 50DMA. Nifty still caught with Bears. Kerala Monsoon may get delayed by 2 days.
Market losing direction after such a sharp fall is not something that Traders would like. Usually, the traders would like to have trend continuing for pulling the markets down dominated by Bears or the Bulls should come to rescue when the market finds some support and trade higher, Couple of Instances where Nifty had moved itself into green.
20DMA for Nifty is at 9276-9280 and unless we cross this and close we will have the Bears attacking again and again. Reliance, BajFinance, Maruti, HDFCBank are most active in the N50 Index while INOX and PVR are facing severe selling pressure.