Benchmark indices came under renewed selling pressure on Monday, reversing the recent recovery as weak global cues and profit booking in private banking and IT stocks weighed on investor sentiment. However, crude prices remained elevated, with ongoing geopolitical tensions continuing to influence the outlook. Going ahead, analysts say, 23,175, corresponding to the previous session’s high, remains the immediate resistance. A sustained move above this level could trigger a recovery towards 23,300.

STATE OF THE MARKETS

Tech View: A break below 22,650–22,700 could further intensify selling pressure. Index traders should remain cautious, keeping 22,800 as key support and 23,000–23,186 as resistance. Long positions built during the mean-reversion rally should be reviewed, with a break below 22,600 levels.

India VIX: India VIX, which is a measure of the fear in the markets, rose 5% to settle at 14.77 levels.

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Stocks in F&O ban today

3) SAIL

Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.

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Foreign portfolio investors net sold shares worth Rs 1,148 crore on Monday. DIIs, meanwhile, were net buyers at Rs 3,201 crore.

The rupee pared its initial gains and settled lower by 3 paise for the day at 94.92 against the US dollar on Monday, weighed down by a sharp fall in the domestic equity markets and a recovery in crude oil prices.

Disclosure: This article has been written by Podishetti Akash, who is not a SEBI-registered Research Analyst or an Investment Adviser. Podishetti Akash and his ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclosures here