Nifty 50 Experiences A Roller Coaster Ride

Nifty 50 Experiences A Roller Coaster Ride

The Nifty 50 Index opened with a gap down at 17,357 with 133 points and closed at 17,577 on Tuesday, August 22, 2022 recovering 232 points from the low of 17,345. A total gain of 87 points (-0.50%) is achieved. The nearest support and resistance in the next trading session will be 17,300 and 17,700 respectively. The leading sectors were Nifty PSU Bank (-2.34%) and Nifty Auto (-1.81%).

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:

  • Mahindra & Mahindra Limited (NSE: M&M)
  • Eicher Motors Limited (NSE: EICHERMOT)
  • Bajaj Finserv Limited (NSE: BAJAJFINSV)
  • Titan Company Limited (NSE: TITAN)
  • Tata Steel Limited (NSE: TATASTEEL)

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

  • Infosys Limited (NSE: INFY)
  • Tata Consultancy Services Limited (NSE: TCS)
  • Divi’s Laboratories Limited (NSE: DIVISLAB)
  • Hindustan Unilever Limited (NSE: HINDUNILVR)
  • HCL Technologies Limited (NSE: HCLTECH)

The Nifty 50 witnessed a Gap down opening based on last day’s data and global cues, yet it was volatile. After opening at 17,357,  Nifty saw the entry of buyers and went up to 17,582. Then it closed at 17,623 with the gain from 212. The Nifty 50 option chain looked bullish for some time but is proving to be long term bearish for swing. If Nifty manages to break 17,682, it will go up to 17,850. If Nifty breaks 17,486, it will nosedive gaining downtrend.

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Sahil Patil

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