Nifty50 started off the week with a negative bias and broke
11,600 level intraday on April 8, forming bearish candle which resembles a
'Bearish Engulfing' kind of formation on daily candlestick charts.The follow-up buying was missing on Monday after pull back
attempt was made by the index on April 5, which indicated that if it decisively
breaks crucial support of 11,549 in coming sessions, 11,300 could be the next target
on downside.The equity benchmark indices ended a volatile session in the
negative territory on Monday as investors awaited cues from March-quarter
results starting this week. Besides, sell-off in oil sector and profit-booking
in recent gainers also led to the decline in the market. Bajaj Finance being biggest loser
and infosys the top gainer.
Out of 30
components of the index, 21 scrips ended in the red and rest nine in the
green. In the broader market, the S&P BSE MidCap fell 111 points end at 15,398 while the S&P BSE SmallCap index ended at
14,987, down 59 points . Volatility index India
VIX jumped over 9 per cent to end at 20.10, indicating a sharp jump in
volatility in the market.Shares of Lakshmi Vilas Bank (LVB) were locked in the upper circuit for the third straight trading days after rising 5 per cent to Rs 97.35 on the BSE on Monday after the private sector lender announced merger with non-banking finance company Indiabulls Housing Finance (IHF).Gujarat Gas shares rallied 9 per cent to Rs 168 in intra-day trade on the BSE on Monday, surging 15 per cent in the past three trading days, after the company announced that it has received a grant of authorization for city gas distribution networks. Shares, eventually, ended at Rs 157, 2.05 per cent. 
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