Commodities
Nifty Crashes Below 23,800 Amid Crude Price Concerns
The Indian market has experienced a significant sell-off, with the Nifty plummeting 260 points in its initial minutes of trade and breaching the crucial 23,800 level.
Gaurav Sharma, VP & Head of Research at Globe Capital, cautions that this breakdown may pave the way for further decline towards 23,600.
He advises short-term traders to exercise utmost caution due to heightened volatility.
Rising Brent crude prices are a major concern, with Gaurav Sharma warning that if it crosses $97, crude could surge towards $103-$105.