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The Nifty50 opened strong on short covering, but last hour sell-off and profit booking pushed index lower on March 27, ahead of expiry of March derivative contracts due on Thursday. Along with weak global cues, index heavyweights Reliance Industries and HDFC Group stocks dragged market.The index closed a tad below 11,450 levels and formed bearish candle on the daily charts.11,400 could be crucial support for Nifty, so if that gets broken then there could be further selling pressure in coming sessions, experts said, adding volatility is likely to be seen on expiry day.
The Nifty50 opened strong on short covering, but last hour sell-off and profit booking pushed index lower on March 27, ahead of expiry of March derivative contracts due on Thursday. Along with weak global cues, index heavyweights Reliance Industries and HDFC Group stocks dragged market.The index closed a tad below 11,450 levels and formed bearish candle on the daily charts.11,400 could be crucial support for Nifty, so if that gets broken then there could be further selling pressure in coming sessions, experts said, adding volatility is likely to be seen on expiry day.