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Stock Market Today: At around 2:30PM, the Sensex was down 454 points or 0.54 per cent at 84,324.84, while the Nifty slipped 126 points or 0.49 per cent to 25,840.05 on the monthly expiry day. Zee Business Managing Editor Anil Singhvi said today’s volatility is mainly due to the monthly F&O expiry. Despite strong fundamentals and positive cues, the market traded weak and choppy through the session.

Singhvi noted that all indicators were strong for the market today — global markets were supportive, both FIIs and domestic funds bought aggressively yesterday, and indices closed on strong technical grounds. The Nifty ended yesterday at a one-year high, while Bank Nifty settled at a record life high.

However, the session began on a muted note, followed by a sharp recovery in the first hour, with the market surpassing yesterday’s highs. Later, heavy profit booking dragged indices lower again, causing high intraday volatility. Singhvi attributed this pattern mainly to the monthly expiry adjustments.

Singhvi said a close above 26,000 for Nifty looks “a bit difficult.” The highest open interest is placed at the 26,000 Call (3.62 crore shares) and the 25,900 Put (3.03 crore shares). This makes 25,900 a crucial support zone — if Nifty breaks below this level, long positions could unwind and selling pressure may intensify.

Singhvi highlighted the following trading levels for the day:

Nifty support: 25,825–25,900

Bank Nifty support: 57,800–58,000

Nifty resistance: 26,000–26,100

Bank Nifty resistance: 58,300–58,500

He added that weakness may increase if Nifty closes below 25,800 or Bank Nifty below 57,650. Conversely, a close above 26,000 on Nifty or 58,275 on Bank Nifty would confirm further strength and potential upside momentum.

Singhvi concluded that the market remains technically strong, but expiry-driven volatility and profit-taking near resistance will likely keep traders cautious in the short term.

Abhay Shukla is a Senior Sub-Editor at Zee Business, where he covers the stock markets, corporate news, personal finance, technology, and auto sectors.

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