As predicted via Daily Market view tool, the dalal street saw a massive bloodbath and price correction due to multiple factors. BankNifty saw a 1000+ points correction(nearly 2.5%). The impact is due to holiday this Thursday on account of republic day. The futures and options expiry is set for today's session for Janurary expiry day session and upcomming budget. NIFTY and NIFTYBANK both entered into a bearish stage due to break-down of 41622(in Banks) and 17800(NIFTY) giving a gittery momentum for next couple of trading sessions.

On the monthly derivative expiration day, the Sensex dropped over 800 points and the Bank Nifty dropped 2.3%. The Nifty could fall below the critical support level of 17800. The Nifty Volatility Index even reached levels of 10% increase. After short-seller Hindenburg Research announced it had short positions in Adani group companies through US-traded bonds and non-Indian-traded derivative instruments, the stocks of companies in the Adani group fell by 2-5%.

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