Indian benchmark indices snapped the seven-day winning streak and settled lower on Wednesday on the back of profit booking amid the trade tariff concerns. Sectors, with higher US exposures, like IT and pharma, were the key laggards. BSE Sensex tanked 559.84 points, or 0.72 per cent, to end the session at 77,457.35. NSE's Nifty50 cracked 181.80 points, or 0.77 per cent, to settle at 23,486.85 for the day.
Nifty has formed a bear candle signaling consolidation with corrective bias after recent sharp up move of last 2-3 weeks. It is likely to consolidate in the range of 23,850-23,200. Support on the lower side is placed at 23,200 levels, a recent breakout area. Overall trend remains positive, said Bajaj Broking.
Some buzzing stocks including HDFC Bank, Siemens India and NCC are likely to remain under the spotlight of traders for the session today. Here is what Laxmikant Shukla, Senior Manager- Technical Analyst at Institutional Equities Research, YES Securities has to about stocks ahead of Thursday's trading session.
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