Today, Nifty, Bank Nifty, and most indices saw a decline of over 2%. This drop was influenced by several key factors:
Geopolitical: Tensions due to the Iran-Israel conflict.
Macro: A sharp rise in crude oil prices.
Micro: SEBI’s new circular on Futures and Options.
Foreign Institutional Investors (FIIs) have sold more than ₹30,000 crores this week, adding pressure to the market. From a technical perspective, both Nifty and Bank Nifty have turned bearish, and the market may remain challenging in the coming weeks.
I advise investors not to panic and avoid making fresh purchases until we see the market find support and turn bullish again. Let’s observe tomorrow’s market behavior to gain more clarity.