Post Market commentary -Sheersham Gupta, Director and Senior Technical Analyst at Rupeezy 656l5j

It was a volatile day for the market today, and Nifty again saw sharp selling from the resistance level of 19825. The market recovered after regaining all the losses aided by the IT and auto sectors rally. The European markets opened higher, indicating that it digested yesterday’s Fed Minutes of “Wait and Watch Policy” for further rate hikes, and the Indian markets followed suit. India Vix’s decline also indicates that the cloud of uncertainty may soon be over. The selling in the banking and financial sector was more severe. But the Bank nifty index found at the 200 DMA, saving the index from landing into the bearish territory, although the crucial of 43500 was broken. The banking index needs to cross this level, or else it may see further selling till the next , which is at 42850