The NSE Nifty 50 closed 0.43% lower at 21,759.10, while the BSE Sensex closed 0.56% lower at 71,682.23.
Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices closed in positive territory. The NSE Nifty 50 closed 82.10 points or 0.38% lower to settle at 21,771.70, while the BSE Sensex lost 354.21 points or 0.49% to settle at 71,731.42. The broader indices closed in the red, with largecap and midcap stocks losing the most. Similarly, Bank Nifty index lost 145.40 points or 0.32% to settle at 45,825.55.
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By VK Sharma
The Nifty touched an all-time high of 21,492 on Friday. The benchmark rose for the seventh week on the trot. During the calendar year, the Nifty has gained 18.51%, of which 14% has come only in the last seven weeks.
So where do we go from here?
The monthly chart of the Nifty gives a clear direction as to where we are headed in the long term — up. Since we are at an all-time high level, we will have to depend on the Fibonacci extensions for an answer. The chart shows you the swings in the Nifty, and the 100% Fibonacci extension of the moves gives us a target of 22,131, a level that we have spoken about in the past, in this column. That target is not the last word. It is a mere number on the road ahead.
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