#Nifty #Banknifty

NIfty
Support Zone 21710-21578
Resistance Zone 22147-22224

Banknifty
Support Zone 47069-46827
Resistance Zone 47899-48161


Nifty Oil & Gas was the top loser, falling by 3.2 percent. Nifty Metal and FMCG indices dropped 2.9 percent and 2.5 percent respectively. Nifty Pharma and Realty indices fell 2 percent each. Among gainers, Nifty Auto rose by 0.8 percent

On 10 May, India's benchmark indices took a hit, with NSE Nifty 50 dropping below 22,000 and BSE Sensex plunging over 1,000 points, both marking over a 1 percent intraday fall. Sensex closed 1,062 points at 72,404, and Nifty 50 down 335 points at 21,967. This marks the fifth consecutive day of decline.

Nifty dropped below 100-day moving average since November 12 due to election uncertainties and concerns over PM Narendra Modi's expected smaller majority, pushing the benchmark down 3 percent from its record high. Weak Q4 results and rising crude prices add to the downward pressure, analysts noted.

Market witnesses widespread decline with frontline indices dropping 1-2 percent, while Midcap Index plunges by 1,000 points. Weakness persists in the midcap segment, favoring declines in market breadth. Except Nifty Auto, all sectors declined. Nifty Oil & Gas was the top loser, falling by 3.2 percent. Nifty Metal and FMCG indices dropped 2.9 percent and 2.5 percent respectively. Nifty Pharma and Realty indices fell 2 percent each. Among gainers, Nifty Auto rose by 0.8 percent.