Stock Market today, Feb. 12 -- Correction phase intensified on Tuesday as benchmark Nifty 50 Index and the S&P BSE Sensex ended 1.32% lower each at 23,071.80 and 76,293.60 respectively. The Bank Nifty ended 1.19% lower at 49,403.40 while all sectors led by Auto, Metals, Realty saw significant corrections. Broader markets saw steeper selling with mid and small caps ending 2-3% lower.

The Nifty is now sliding down to form a new lower bottom below the swing low of January at 22786 levels. However, any upside bounce from here could find strong resistance around 23200 levels, said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

The Bank Nifty has broken the support zone of 49,650-49,700. Thus, 49,700 will act as an immed...