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Sensex down over 100 points after opening in green
Mumbai, November 26, 2020
The Indian equity indices traded on a negative note on Thursday morning after opening in the green.
Banking, auto, oil and gas stocks witnessed selling pressure so far.
Around 10 a.m., the Sensex was trading at 43,698.64, lower by 129.46 points or 0.30 per cent from its previous close of 43,828.10.
It opened at 43,967.59 and has so far touched an intra-day high of 44,023.26 and a low of 43,655.60 points.
The Nifty50 on the National Stock Exchange was trading at 12,822.25, lower by 36.15 points or 0.28 per cent from its previous close.
Manish Hathiramani, technical analyst with Deen Dayal Investments said: "After a long time traders were struck by nervousness yesterday when the Nifty broke down over 200 points from the high. The support of 12,800 has still not been violated and hence traders can continue holding their positions with a trailing stop loss."
"If we break 12,800, we could drop further to 12,500. If we resume the existing uptrend from the current level, we can head to 13,200," he said.