Today, the major investor of the Indian stock market, the S&P BSE Sensex, traded with a decline. The Sensex closed at a high of 80,058.43, a high of 79,724.55 and a low of 80,173.92 on the previous day, but it finally closed at 79,801.43 with a decline of 315.06, which was 0.39% less than the previous closing level of 80,116.49.
Market Movement and Market
Today, the market witnessed a mixed trend behind the decline. The market swung in a limited range throughout the day, where the eyes of the investors remained on the pieces and pieces. Selling was especially assessed in the stocks of IT and Finance Company Sector, which put pressure on the investor.
Talking about positive and negative moving averages, the Sensex is trading mostly above its long-term moving averages (SMA/EMA), which is technically a bullish signal. However, today’s fall has given rise to a sense of caution.
Impact of technical analysis
The 5-day SMA of the Sensex is 78,943.6, 10-day is 76,782.2, and 20-day is 76,867.1, while today’s Sensex was 79,801.43. This means that the market is trading above the short-term moving averages, which isolate the bullish strength. The 200-day SMA is 79,109.8, which the Sensex crossed today – indicating that the theoretical outlook has now turned positive as well.
52 week data
Today’s low was 79,724.55 and high was 80,173.92, while 52’s low was 70,234.43 and high was 85,978.25. On this basis it is clear that even now your annual high is below, but 52 is well above the normal low. This is a sign of stability for unemployment, although privatization may continue.
Major news and their impact
Use of AI in IT sector – Today HCL Technologies and LTI Mindtree JEE have made it clear that they are no longer focusing on new employees for sales, but are increasing business capacity with the help of Artificial Artificial Intelligence (AI). Efforts to reduce costs in this sector have gained strength, but the new Sardar’s company has also suffered a slight setback. This is a positive sign for the market.
Nestle India Results – Nestle India reported a 6.5% decline in net profit to ₹873 crore in the March quarter. Sales saw a 3.7% increase, but profit declined due to a drop in food items and consumer spending. This news is an indication of pressure on the FMCG sector and stocks of this sector have been assessed to be down.
Guidelines for Students
Given today’s market behavior, it is important to stay short-term in the short term. As long as the Sensex remains above 79,000, the trend may remain broadly positive. But it will be extremely important to keep an eye on supermarkets and laptops. Long-term investors can still keep investments in SIP or stable institutions.
If an investor is trading on a technical basis, he should follow the trend while paying attention to SMA and EMA crossovers. Today’s performance shows that the stock used its long-term moving average as support and showed some retracements out of nowhere. This implies that there is no major slowdown in the market right now, but consolidation is going on in a specific aspect.
Conclusion
Overall, today is turning out to be a bit negative in the market, but enterprise technology signs are still bullish. The market was affected by the IT and foundation sector news, while technically the Sensex maintained strong support. If positive global cues and better quarterly results come in the coming days, the market may again move upwards.