BREAKING
HC stays appointment of 454 pharmacy officers till Sept 17Silver plunges Rs 6,000, gold slides Rs 2,800Dismiss CBI’s challenge to discharge in excise caseEquities end on a mixed note as geopolitical risks persistHC upholds teacher’s jail term for sexually assaulting minor studentSpecialised investment funds cross Rs 23,000-cr AUM mark in JulyCM inaugurates two-lane bridgeGlobal shares rise as AI-related stocks reboundCity looks for ways to keep stray cattle off roadsRupee likely to trade in red zone
Business

Daily charts form a small bearish candle

hellohimachalse@gmail.com 14 Aug 2026 1 hour ago

Mumbai: The benchmark indices continued profit booking at higher levels. The Sensex was up by 114 points. Among sectors, the Defense index outperformed today, rallying 1.58 per cent, whereas the Metal index lost the most, shedding 1 per cent.

Technically, after a weak open, the market took support near the 20-day SMA (Simple Moving Average) once again. On daily charts, it has formed a small bearish candle, which indicates indecisiveness between the bulls and the bears. “We believe that the market has completed one leg of correction and is currently trading near an important support zone of the 20-day SMA,” says Shrikant Chouhan, Head – Equity Research, Kotak Securities.

If it succeeds in trading above this level, it could bounce back to 78,500-78,700. On the flip side if the index falls below 77,700, selling pressure is likely to accelerate. Below this level, it could slip to 77,400-77,200.

Related News