Compared to the largecap, midcap and smallcap indices, Nifty Midcap 100 is underperforming by 2.10 points at 49,107 and Nifty Smallcap 100 by 3.90 points at 15,991.
The Indian Volatility Index (India VIX) is down nearly 1 percent at 18 points.
Sectorally, Nifty FMCG is the top gainer with gains of 1.30 per cent, while Nifty Pharma and Nifty Energy indices are up 0.94 per cent and 0.86 per cent respectively.
Nifty Realty and Nifty IT are down 0.07 percent and 0.42 percent respectively.
Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher Pvt Ltd., said, “Nifty index, after witnessing double top formation near 2280 area, has slipped substantially with profit booking and is currently below the crucial 100- Term MA at 22000 level is maintained with bias and cautious approach near 21750 level.
“With the overall bias and sentiment being kept indecisive, it would require a decisive move above the crucial 50EMA level of 22250 to improve the situation from the current levels and expect further upside thereafter,” he said.
The Indian Volatility Index (India VIX) is down nearly 1 percent at 18 points.
Sectorally, Nifty FMCG is the top gainer with gains of 1.30 per cent, while Nifty Pharma and Nifty Energy indices are up 0.94 per cent and 0.86 per cent respectively.
Nifty Realty and Nifty IT are down 0.07 percent and 0.42 percent respectively.
Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher Pvt Ltd., said, “Nifty index, after witnessing double top formation near 2280 area, has slipped substantially with profit booking and is currently below the crucial 100- Term MA at 22000 level is maintained with bias and cautious approach near 21750 level.
“With the overall bias and sentiment being kept indecisive, it would require a decisive move above the crucial 50EMA level of 22250 to improve the situation from the current levels and expect further upside thereafter,” he said.
