September 20, 2023 / 11:45 AM IST
Sensex Today | Parth Nyati, Founder at Tradingo
Today, both Nifty and Sensex experienced profit booking, largely attributed to a sharp sell-off in HDFC Bank following its analyst meeting. During the meeting, concerns were raised about potential margin pressure and the asset quality post-merger of HDFC twins. Additionally, global markets exhibited caution in anticipation of the upcoming FOMC meeting. Factors such as increasing US bond yields, rupee weakness, a surge in crude oil prices, and selling by foreign institutional investors (FIIs) further contributed to the challenges faced by our markets.
From a technical perspective, Nifty and Sensex have identifiable immediate support levels at 19,900 and 66,900, respectively. If these levels are breached, we may witness additional profit booking, potentially leading towards 19,640 for Nifty and 66,000 for Sensex.
