The Indian inventory and cash markets will stay shut on Wednesday, April 21, 2021, on account of Ram Navami. They will resume buying and selling on Thursday, April 22, 2021.
On Tuesday, the benchmark S&P BSE Sensex had ended 243.62 factors (0.51 per cent) decrease at 47,705.80, and the broader Nifty 50 on NSE had fallen 63.05 factors (0.44 per cent) to settle at 14,296.40.
The rupee pared its preliminary good points to shut marginally down by 1 paisa at 74.88 in opposition to the US greenback on Tuesday.
Commenting on the Nifty, Nagaraj Shetti, Technical Research Analyst at HDFC Securities stated, “The lack of strength to sustain the highs continued in the market and the Nifty is now placed at the crucial support juncture of around 14,200-14,150. The chances of downside breakout seems higher. A decisive below the support is likely to drag Nifty down to 13,500 levels in a quick period of time. Any upside bounce from here could find strong resistance around 14,370.”
