Sensex settled 523 points lower at 71,072 and the broader Nifty also closed 166 points lower at 21,616.
Stocks that were in focus included names like Global Health, which rose 6.34%, MCX, which dropped 9.03%, and Apollo Hospitals, whose shares jumped 2.6% on Monday.
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Here's what Avdhut Bagkar, Derivatives & Technical Analyst, at StoxBox, recommends investors should do with these stocks when the market resumes trading today.
Global Health — Avoid
The price action witnessed a sharp 14% rise to mark the new life high of 1448 in the previous trading session on the highest volume recorded in the quarter.
However, it succumbed to selling pressure in the second half of the trading session and pared nearly half the intraday gains indicating selling pressure.
The bullish momentum now remains overheated and with an extended bull run in the stock, we reckon to avoid Global Healthcare at the current market price.
The stock has broken the key support of 3750 on a closing basis, inducing a negative bias for the immediate term. The trend has turned sour, and if the price action fails to display recovery, the bear may take over.
The following support emerges at 3275, its 50-simple moving average (SMA). A breach of 50-SMA may push the stock towards the 2750 mark.
The stock has hit a new all-time high, displaying a strong trend in play. The trend is vigorous, and unless the support of 6000 is violated, the trend will continue venturing uncharted territories.
The price action reveals a move towards the