Rupee, earnings, macro data: Why Sensex slumped over 400 points today

The market extended losses for the second straight session as investors digested September factory output and developments on demonetisation front. The slide in Asian markets following surge in dollar also weighed on market sentiment.   Nifty Trading Tips

The S&P BSE Sensex slumped as much as 500 points to 26317.89, while the broader Nifty50 index also dipped below 8,150 in intraday deals.   Future & Option Trading Tips

“Nifty will trade between 8,100-8,700 for next one month. The impact of demonetization will be very negative for many mid-cap and small cap stocks. Consumer discretionary stocks will correct more than expected,” said AK Prabhakar, Head of Research at IDBI Capital in a technical note.

“Nifty50 corrected to 8,002 level after hitting 8,968, so if we fail to cross 8,750 then trend remains at 7,600 or 7,500,” he added.    Financial Astrology