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NIFTY

*NIFTY remained under pressure for the third consecutive session, losing nearly 1%.

* Almost all the sectors were under heavy pressure, while IT being the only gainer.

*Nifty is nearing the previous swing low around 24,700, and a breach of this level could trigger further selling,

* Next key support is at 24,450. If the market rebounds, resistance is now seen at 25,050-25,200 zone. * Traders are advised to adjust their positions accordingly and manage leveraged trades carefully.

BANKNIFTY

* Banknifty failed to sustain above its support, i.e., 51750 (50 EMA). Sharp selling at initial hours followed with additional pressure throughout the day to close at days low.

* Witnessed breakdown to its important consolidation zones and trend line of it’s head and shoulder pattern.

* VIX is seen with spike, be cautious over sharp moves.

* Traders are recommended to follow strict stop losses and can go with negative bias.

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SEBI Registration number is INZ000174330