Consolidation to continue : Sensex, Nifty slip 1% over Iran-Israel conflict worries

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Consolidation to continue : Analysts expect some consolidation in the next few days after the recent uptrend and as the earnings season gets underway

Consolidation to continue : Domestic indices the Sensex and the Nifty fell about a percent on April 15 morning as escalating tensions in West Asia kept investors risk-appetite subdued.

Given the sharp uptrend in recent weeks, analysts expect some consolidation for the next few days as India Inc unveils its fourth quarter financials and voting for the Lok Sabha begins later in the week. Consolidation to continue

The Sensex was down 731 points, or 0.9 percent, to 73,502, while the Nifty slipped 230 points, or 1 percent, to 22,289. Broader markets, too, bled as the Nifty midcap 100 and the Nifty smallcap 100 declined up to 3 percent.

Consolidation to continue : Follow our market blog to catch all the live updates

Devarsh Vakil, the deputy head of retail research at HDFC Securities, expects Israel-Iran conflict, domestic and global economic macroeconomic data, crude, the March quarter results and general elections to keep investors on their toes and guide the market direction during the week. Consolidation to continue

For the Nifty, the next major support is at 22,303-22,142 in the coming sessions. “As the intermediate uptrend is intact, we expect any correction to halt at lower levels and the intermediate uptrend to resume,” Vakil said. Consolidation to continue

(This is a developing story. Please come back for more updates)

Disclaimer: The views and investm

Consolidation to continue : The Indian stock market indexes, Sensex and Nifty, fell by 1% today due to concerns about the ongoing conflict between Iran and Israel. This comes on the heels of a previous period of consolidation in the market.

Here’s a breakdown of the news:

  • Market Fall: Both Sensex and Nifty declined by 1%.
  • Reason: Investor worries about the Iran-Israel conflict are causing a pullback in the market.
  • Previous Trend: This decline follows a period of consolidation, where the market’s movement has been relatively flat.

It’s important to note that stock markets can be volatile and react to global events. The extent of the impact of the Iran-Israel conflict on the Indian market remains to be seen.

ent tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. Consolidation to continue

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