Kolkata: In the absence of any positive trigger on Tuesday, Sensex 30 ended 872.98 points or 1.06% down to close at 81,186.44 and Nifty 50 ended the session at 24,683.90 points a good 261.55 points or 1.05% down. All eyes will be on the market indices when trading opens on May 21. Let’s have a look at the possible triggers. FII selling and weak global cues marked trading on May 20. Moreover, invesgtors just cannot be sure about how the tariff war is going to unfold after the 90-day suspension ends.
Reports quoted market analysts saying that on Wednesday traders are expected to follow sell-on-rise strategy as far as Nifty is concerned. This index could have a support at the level of 24500 and resistance could be encountered at 24800. But if Nifty can breach 24,800, then there is every possibility of it climbing towards 25000.
“Sell on rise” predicted
Incidentally, “sell on rise” strategy is a trading approach where traders anticipate potential correction in the market and sell their positions when prices are rising. It is often used in downtrending markets, since traders expect prices to decline after encoutering a resistance level.
Global markets today; mixed signals in Asia
All three major US indices ended lower on Tueaday. Dow Jones went down 0.12%, S&P 500 dipped 0.39% while Nasdaq fell 0.38%. The three key European indices FTSE (+0.93%), CAC (+0.74%) and DAX (+0.42%) closed in the green.
Asian markets on May 21 were giving mixed signals. Nekkei and Straits Times were in the red while Hang Seng, KOSPI and Taiwan indices wer ein the green. So was GIFT Nifty though muted. Djakarta and Shanghai Composite indices were also trading in the green.
Rupee inched down against the dollar
On the rupee versus dollar front, the value of the Indiaan currecy went down 16 paise on Tuesday to close at 85.58 against the US currecy. US treasury yields bouncing back was thought to be te reason. The rupee was also consgtrained by outflow of foreign funds and positive crude oil prices. The impact on the rupee woud have been more pronounced if the weak US dollar index did not cushion the downside.
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The broad indices of the Indian stock market Sensex 30 and Nifty 50 both ended lower by more than 1% on Tuesday, May 20, 2025. Have a look at what could be the triggers today. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
