Bears Are Taking Command Over Nifty 50

Bears Are Taking Command Over Nifty 50

The Nifty 50 Index opened with a gap down at 17,682 with 76 points and closed at 17,493 on Monday, August 22, 2022. A loss of 267 points (-1.51%) is achieved. The nearest support and resistance in the next trading session will be 17,350 and 17,650 respectively. The lagging sectors were Nifty Metal (-2.98%), Nifty Financial (-1.94%) and Nifty Auto (-1.94%).

Nifty 50 Technical Analysis

To know better about the market you can check the video provided above that contains Nifty 50 option chain analysis data.

Top Gainers And Losers Today

The top Indian stocks that saw a bullish performance as per NSE are:

  • Tata Consumer Products Limited (NSE: TATACONSUM)
  • Coal India Limited (NSE: COALINDIA)
  • ITC Limited (NSE: ITC)
  • Britannia Industries Limited (NSE: BRITANNIA)
  • Nestle India Limited (NSE: NESTLEIND)

The Indian stocks that saw a bearish performance along with the Nifty 50 index are:

  • Tata Steel Limited (NSE: TATASTEEL)
  • Tata Motors Limited (NSE: TATAMOTORS)
  • Adani Ports And Special Economic Zone Limited (NSE: ADANIPORTS)
  • Asian Paints Limited (NSE: ASIANPAINT)
  • Divi’s Laboratories Limited (NSE: DIVISLAB)

The Nifty 50 witnessed a Gap down opening based on today’s intraday perspective, yet it was in downtrend. Nifty broke 17,500 and good volume addition was seen. Bears took command today.The Option Chain indicates huge call addition and put side unwinding that showed bear conviction.

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Sahil Patil

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