Indian equity markets BSE and NSE closed for Holi today. Markets experienced sharp declines on Monday with Nifty falling 1.24% to 24,865.70 and Sensex dropping 1.29% to 80,238.85 amid broad selling pressure. The fear index VIX surged 25% to 17.13, reflecting heightened market volatility. Financials, auto and consumer stocks were the worst performers. Analysts warn that Nifty could test support at 24,600 with potential downside toward 24,400 if this level breaks decisively. The 25,000-25,250 zone presents immediate resistance on any recovery attempts. Given current global uncertainty and market volatility, investors are advised to maintain cautious positions with disciplined risk management strategies and lighter position sizes during this period of market turbulence.
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