As of press time, the Nifty 50 index stands at 25,174.25, marking a decline of 105.60 points or 0.42%. The day’s trading range is between 25,083.80 and 25,192.45. The BSE Sensex is currently at 82,266.95, down 288.49 points or 0.35% and with a trading range between 81,833.69 and 82,330.84. As the market drops with such a strong momentum, here are the top stocks that witnessed the most drop.
Top 5 LosersToday
Source: NSEIndia
1. Wipro
– Open: Rs 528.00
– High: Rs 528.25
– Low: Rs 516.75
– Current Price: Rs 519.75
– % Change: -3.04%
Wipro: TradingView
Wipro is currently showing a bullish trend overall despite today’s dip. The stock is approaching the completion of a gap fill ranging from Rs 530 to Rs 556, which it began filling a few days ago before experiencing bearish pressure. If bullish momentum resumes, the next target is set at the recent high of Rs 579. However, if bears maintain control, the price may drop to the ascending trendline support as indicated on the chart.
2. Coal India
– Open: Rs 516.85
– High: Rs 516.85
– Low: Rs 500.55
– Current Price: Rs 505.35
– % Change: -2.74%
Coal India: TradingView
Coal India is generally bullish despite today’s decline. The stock has been bearish since hitting resistance at Rs 543. It is currently trading within an ascending channel. The next target and support level is at the base of this channel around Rs 490. A bounce from this level could indicate a continuation of the overall bullish trend.
3. ONGC
– Open: Rs 315.00
– High: Rs 316.20
– Low: Rs 308.40
– Current Price: Rs 313.50
– % Change: -2.70%
ONGC: TradingView
ONGC remains bullish overall but has faced bearish pressure after reaching resistance at Rs 344. The price is currently holding at the support level of an ascending trendline, completing a double-top pattern. If the price gets rejected at this support, a bullish continuation is likely. However, a break below Rs 312 could lead to a further drop targeting the Fair Value Gap (FVG) at around Rs 285 indicated on the chart as support.
4. M&M
– Open: Rs 2,761.00
– High: Rs 2,779.90
– Low: Rs 2,734.00
– Current Price: Rs 2,735.85
– % Change: -1.76%
M&M: TradingView
M&M’s price pattern has turned bearish after its high at Rs 3,013. Since then, the stock has been forming consistent lower highs and lower lows. The next target is the ascending trendline support, followed by the low of Rs 2,477 if the bearish trend continues.
5. Hindalco
– Open: Rs 666.65
– High: Rs 673.80
– Low: Rs 661.25
– Current Price: Rs 667.10
– % Change: -1.74%
Hindalco: TradingView
Hindalco is currently consolidating within a horizontal trading channel. The stock recently bounced back from a horizontal resistance level of around Rs 713. The next target is the Rs 615 support of the channel. At the same time, Hindalco will fill up a fair value gap present in its chart. A break below this level could signal further downside.
