Sensex may slide to 50,000; Nifty may dip below 15,000, tech charts suggest

Similarly, the Bank Nifty may shed another 7 per cent to 30,500-31,000 levels.

The key benchmark indices plunged sharply in trades on Monday, taking cues from the Asian counterparts and SGX Nifty, as Brent crude surged past the $130-mark as the Russia-Ukraine war took its toll. Investors are worried about higher inflation and steeper rate hikes going ahead as a fallout to the sharp rally in crude oil prices.

As of date, the BSE Sensex and Nifty 50 had shaved-off 15 per cent from their respecitive historic highs. The all-time high for Sensex was 62,245 and for Nifty 50 18,604; both levels were claimed in October 2021.

According to analysts, the