Live: Market Crash – Healthy Correction Or Cause For Worry How To Navigate The Midcap Selloff

Indian equity market finally caught into the much-awaited major profit booking and lost more than 400 points from its record high touched in the morning session on December 20 despite the positive mood at global counterparts. The Nifty50 is likely to take support at around the psychological 21,000 mark in the profit booking, and 20,800 is expected to be a crucial support area, whereas it may face resistance at the 21,200-21,400 zone and 21,600 seems to be the top for the time being, expert said, adding overall, the market sentiment is still positive and remained consolidative unless it decisively breaks 20-day EMA (exponential moving average which is nearly 400 points away from Wednesday's closing). On December 20, the BSE Sensex fell 931 points or 1.3% to 70,506, while the Nifty50 tanked 303 points or 1.4%. The broader markets hit badly with negative breadth. The Nifty Midcap 100 and Smallcap 100 indices corrected 3.3% and 3.6%, respectively. The fear index, India VIX also jumped further, rising 4.20% to 14.45, from 13.87 levels, which made the bulls uncomfortable at higher levels. This morning global cues are downbeat with Wall Street clocking its worst session since September. But the GIFT Nifty is hinting at a muted start. Also among stocks in focus today, we put the spotlight on railway stocks, Zee and defence stocks among others. Catch Nandita Khemka in conversation with Milan Vaishnav, Founder and Technical Analyst, ChartWizard FZE and Gemstone Equity Research and Market expert Ajay Bagga. #live #stockmarket #sensex #nifty Moneycontrol is India's leading financial and business portal with in-depth market coverage, analysis, expert opinions, and a gamut of financial tools. A part of Network18, moneycontrol.com is the most influential destination for stock market news and advice, business news, and news about the Indian and global economy. Subscribe: https://bit.ly/moneycontrolyoutube Follow us: Visit https://www.moneycontrol.com/ Facebook: https://www.facebook.com/moneycontrol/ Twitter: http://www.twitter.com/moneycontrolcom Instagram: https://www.instagram.com/moneycontrolcom

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