A morning walk down Dalal Street | Selling pressure could accelerate if Nifty breaks below crucial support of 11,550

Sensex, as well as Nifty hit record highs but then the momentum, fizzled out soon at the top

There is a possibility that we could have made an intermediate top but the confirmation will come if we close below 11550 

The final tally – the S&P BSE Sensex closed 179 points lower at 38,877 while the Nifty50 dropped 69 points to close at 11,643. The Nifty50 took support at its 5-days EMA placed at 11,629.

Traders preferred to book profits ahead of the outcome of the RBI Monetary Policy Committee meeting's outcome on April 4. Skymet forecast on monsoon rains could have also afected the sentiment.