Why Are Markets falling Today | Sensex Slumps Over 800 Points, Nifty Below 24,000 | Top 5 Reasons

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[00:00:00]market bit with all the action in the markets today. Shhat it is a Thursday you know from that day's lowest levels as well it's almost 100 points recovery that has come in but the volatility continues to remain high uh you know you have the rupee which is not in favor to some extent Brent is somewhere not in favor as well though from dollar I mean what 126 you have Brent which is again cooled down to 123 in terms of June futures how is this entire setup actually uh putting you in terms of where trade goes >> right uh good Afternoon Hal and yes that trade it seems like there is a negative sentiment getting impacted. Remember it's a truncated week of trade. We saw a gap down opening but a minor recovery is coming but nevertheless the overall trend is still negative at least on the technicals. So Nifty Bank also the story is the same. Let's just pull out the Nifty Bank to see it's down almost 660 points. A minor recovery attempt is being made here as well. But important triggers to track is definitely the geopolitical developments which have happened and that is you know giving an impact to most of the markets. The nifty support levels immediate 23800 that's where the bounce has come in. Nifty bank also very tight range of support I have got the range ranges between 54,500 to 55,000 levels that's where the support is coming in. Apart from that let's talk about the rupee that has hit its record low levels. That's the concern which Hel was mentioning and the Brent crude above that $120 barrel per mark that is where the concern starts coming in. But as we get into much further details remember the basket selloff is happening in the small and midcap space and this has this trend has overturned after a lot of days and that's a little bit of profit booking maybe there yields have risen and the VIX that has spiked. India VIX is up almost 8% today near that 19 mark. It's not a ma major concern but if it goes past the 2022 mark that's where the con concern happens but remember avoid carryover trade for this long weekend lot of things are happening right now first and foremost is the state elections announcements on Monday the results especially on west Bengal that is where a lot of eyes are there and apart from that uh remember geopolitical developments for the next 3 days US and Iran it's very much important and we don't know there's no clarity yet and Tomorrow itself is a market holiday also on 1st May. That is why we are seeing a truncated week of trade. But def definitely there is no clear trend coming and we are going into this long weekend in a very uncertain manner. Over to you Hal.

[00:02:34]>> Okay. Okay, so we're getting into that long weekend with little bit of uncertainty.