It is a Black Monday for Indian Stock Markets and other world markets crashed as global stocks and commodities extended last week’s steep declines. Nifty and Sensex Crashed around 5.92% and 5.94% respectively. Nifty lost nearly 494 points, Bank Nifty around 1298 points (-7.19%) and Sensex around 1624 points. In the Equity Market FII’s sold Rs -5275.40 Cr worth of stocks and DII’s Bought Rs 4097.83 Cr worth of equities. Chinese Market Sell of Followed by European and US stock Exchanges are the key trigger for Indian Stock Market Crash.
Nifty and Bank Nifty futures turned to positional sell mode on 23rd of September and currently the resistance zone comes around 8105.73 and 15840 respectively reverse your position to positional buy mode if the resistance zone breaks on the hourly charts.