On Monday, Sensex falls 500 points, Nifty slips below 23,250
After three days of gains, the Indian stock market took a hit on Monday.
Sensex fell 500 points from day's high and Nifty slipped below 23,250, mostly because investors started cashing in on recent profits.
IT stocks got hit as selling picked up.
By 1:16pm both Sensex and Nifty had pared gains but were still trading lower than the day's high.
Market experts: Nifty must break 23,350
Market experts are urging caution right now. They say Nifty needs to break above 23,350 for things to look bullish again.
Key resistance and support levels to keep an eye on: 23,175 (Nifty) and 74,800 (Sensex) for resistance; if Nifty drops below 22,600 or Sensex under 73,400, the market could lose momentum.
The IT sector led the decline as investors booked profits, so if you're following stocks or thinking about investing soon, it's worth watching these trends closely.