IGI Logo

Below the Quote on Post market comment by Mr Shrey Jain, Founder and CEO SAS Online - India`s Deep Discount Broker

Indian benchmark indices suffered a sharp decline today, ending the week with a notable drop of over 1%. The BSE Sensex-30 plummeted by 1,017 points, or 1.24%, closing at 81,183.93. Similarly, the Nifty-50 ended the day at 24,852.15, down 292.95 points, or 1.17%.

The downturn was driven by a combination of weak global signals and regulatory challenges. Investor sentiment was further dampened as some chose to lock in profits at record levels in anticipation of upcoming US employment data. The Nifty's dip below the key 20-day exponential moving average (DEMA) suggests the potential for further declines, with critical support positioned around 24,500 at the 50 DEMA.

In light of these developments, it is prudent to steer clear of aggressive trading strategies and implement stringent stop-loss measures on existing positions.

Above views are of the author and not of the website kindly read disclaimer