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The Sensex and Nifty lost more than 2 per cent on Thursday and the rupee hit an all-time low, as investors shunned riskier assets in the run-up to inflation data which could bolster fears of more rate hikes. Technically, The Nifty has formed a bearish candle on a daily chart. The next immediate support remains at 15650 followed by 15500 levels. While resistance is placed at 16050. Price ticking below the major moving average would be a concern for bulls. Indicators such as RSI and MACD are oversold zones. Hence buying would be expected after sustaining 16150 levels. On the other hand, Bank nifty has support at 32500 levels followed by 32000 while resistance is placed at 34600 levels. Passenger vehicle major Tata Motors on Thursday reported narrowing of consolidated net loss (attributable to shareholders of the company) to Rs 1,033 crore for the quarter ending March 31, 2022. It reported consolidated net loss of Rs 7,605 crore in the year-ago period and Rs 1,516 crore in December quarter .Consolidated revenue declined 11% to Rs 78,439 crore as against Rs 88,628 crore in Q4FY21.
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