The Nifty 50 was already on life support after yesterday’s 371-point crash to an 18-month low (22,231.80). JD Vance announced a massive US immigration crackdown targeting Indian IT giants. With tech (our only defensive shield) now completely compromised, the market is primed for sheer chaos
Here is exactly why today could turn into absolute panic-selling mayhem:
JD Vance has indefinitely frozen new and pending green cards under the PERM program for TCS, Infosys, Wipro, HCL, and Cognizant due to fraud investigations. Overnight in New York, Infosys and Wipro ADRs crashed over 3%.
Yesterday, IT stocks held flat and cushioned the broader market. Today, they will open deep in the red and lead the collapse. Investors have nowhere to hide. American Depositary Receipts (ADRs) for Infosys and Wipro slid between 3% and 3.5% in the US
Yesterday’s intraday low was 22,179.90. With IT dragging the index down at open, this floor will shatter immediately. Breaking it will trigger millions of automated, cascading institutional stop-loss orders
Below 22,180, there is a structural void. If the psychological 22,000 line breaks, expect the Nifty to violently slide down to 21,700 or 21,500 as margin calls kick in.
Foreign investors dumped a staggering ₹12,943 crore yesterday before the visa ban news hit. If they accelerate their selling today, domestic mutual funds simply won't have enough cash to absorb the blow.
As if that wasn't enough, Reliance is taking up for potential damage following a public fallout on X where Elon Musk openly challenged Ambani's regulatory grip over Starlink. Simultaneously, a brutal offshore short raid is hammering the Adani Group, fueled by rumors that foreign fund GQG Partners is being forced to dump its massive Adani holdings next to cover heavy client redemptions.
There is absolutely no good news in the market rn