Nifty50:
NIFTY50 opened high at 14,453.30, the index hit the day high at 14,459.15 in early trade only to slip into the red. The index tried to recoup losses in the afternoon but fell sharply in the last hour and closed lower at 14,281.30 levels, down 152.40 points, or 1.06 per cent.
The index formed a bearish candle on the daily chart at the closing was lower than opening levels. Experts said the volatility is likely to continue in the coming days.
The index is down at more than 300 points in  the last two Trading session, some sideways consolidation should be expected in the next day unless it breaches levels at 14,222.

If the index 14,222 is violated, then the slide will get extended towards 14,100 levels. However, a bounce towards 14,400 can be an opportunity to initiate fresh shorts for the targets placed at 13,950 to 3,800 zone.
On the options front, maximum Put open interest was at 14,000 followed by 13,000 strike, while maximum Call open interest was at 15,000 followed by 14,500 strike. Call writing was seen at 14,500 then 14,400 strike, while Put writing was seen at 14,100 and unwinding at 13,800 strike.On the options trade, maximum Put option open interest was at 14,000 followed by 13,000 strike, while maximum Call option open interest was at 15,000 followed by 14,500 strike. Call option writing was seen at 14,500 then 14,400 strike, while Put option writing was seen at 14,100 and unwinding at 13,800 strike.The above options data indicated that Nifty50 could see an immediate trading range of 14,100 to 14,500.
BANK NIFTY:
The Bank Nifty opened higher at 32,275.15 but could not surpass its hurdle of 32,500 even after a positive move of HDFC Bank and drifted towards 31,650. It moved hand-in-hand with the broader market, with all the banking stocks trading in the red barring HDFC Bank, and its day closed at 31,811.80, down 435.05 points, or 1.35 percent, at  the index formed a bearish candle on the daily scale.
The Bank Nifty continues to form lower top to lower bottom from the last two sessions. Now till it remains below 32,000, levels of weakness could be seen towards 31,500 and 31,250, while on the upside hurdle was seen at 32,200 and 32,500 levels.
NIFTY TOP 5 GAINERS AND LOSERS:
GAINERS: UPL, RELIANCE, TITAN, HDFCBANK and EICHERMOT
LOSERS: TATAMOTORS, TATASTEEL, ONGC, HINDALCO and JSESTEEL