The index has fallen by about 5% due to a weaker trend for the NDA in the poll counting. The market, which had begun to price in a landslide victory for the NDA, is witnessing a significant correction due to margin calls, as retail investors were carrying heavily leveraged positions. Support seems to be very fragile. Immediate support is visible at the psychological level of 22,000, below which the index might fall further towards 21,400-21,500. Recovery looks possible once the trend moves in favor of the BJP winning the election comfortably.

 


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