At NSE Nifty, 42 out of 50 stocks closed in the red zone while all 12 Bank Nifty stocks closed below from its Friday close price. Speaking on the day trading guide, stock market experts said that the short-term trend of Nifty seems to have turned down, after a display of lack of strength at the new highs. The overall chart pattern signal chances of market sliding down to the crucial support of 15,635 levels in the short-term. Banking stocks came under pressure on renewed fears of asset quality/rising slippages following Q1 results from Banks. Metal and Auto stocks also came under selling pressure following virus scare and inflation worry on a global basis.

Source: Mint July 20, 2021 01:30 UTC