Today’s Stock Market:
The Nifty-50 index has an immediate support level of 23,400. According to experts, there is a strong support level at 23,141,and possible resistance levels are expected at 23,600 and 23,869
Stock Market Today:
Part of the gains made in the previous trading sessions were erased when the benchmark Nifty-50 index fell 0.77% on Wednesday to close at 23,486.85. The Bank Nifty experienced a comparable drop,closing at 51,209.00,while the majority of other industries,including real estate,IT,and pharmaceuticals,were among the losers.Additionally,the wider indices saw a 0.7%–1.2% correction.
Also Read : Today’s Nifty 50 and Sensex: What can we anticipate from the Indian stock market on March 26?
Thursday’s Trade Setup :
The 100- and 200-day exponential moving averages provide immediate support for the Nifty-50 index at 23,400. According to Devarsh Vakil, Head of Prime Research at HDFC Securities, there is a solid support at 23,141, and possible resistance levels are expected at 23,600 and 23,869
According to Sameet Chavan, Head of Research, Technical and Derivative at Angel One, the next leg of the up rise for the Bank Nifty is probably only going to develop once it has successfully navigated the 52000–52100 resistance zone.
Today’s International Markets :
Following the recent advances,the market saw profit booking in anticipation of the US tariff announcements the following week. There has been some selling pressure on industries like IT and pharmaceuticals that are more exposed to the US market. US sanctions on Iran and the expectation of a decline in US petroleum inventories caused oil prices to slightly increase. According to Vinod Nair, Head of Research at Geojit Investments Limited, the market is anticipated to trade more steadily with the start of FII inflow, a recovery in domestic fundamentals, and a favorable valuation.