Nifty, global trade setup amid Israel-Iran news : June 27,
Stock Market Today: The Nifty may move toward the next upper 25800–26000 mark by the end of next week after nearly hitting our upward target of 25600 levels on Thursday. According to specialists,immediate support is placed at 25400 levels.
Stock Market Today: The benchmark Nifty-50 index saw a robust surge on the day of expiration,closing 1.27% higher at 25,549.00. While metals and the Oil & Gas index drove the surge in many other industry indexes, the Bank Nifty concluded the day 1.03% higher at 57,206.70. However,there were corrections in the IT and real estate indices. Small and mid-cap stocks in the overall market likewise closed the day 0.4-0.6% higher.
Friday’s Trade Setup :
After nearly hitting our upward target of 25600 levels on Thursday,the Nifty may now move up to the next higher 25800–26000 mark by the following week. According to Nagaraj Shetti,Senior Technical Research Analyst at HDFC Securities, immediate support is set at 25400 levels.
According to Bajaj Broking, the inferred pattern goal indicates an upward possibility between the 57,800 and 58,500 marks over the next week,given the recent breakout for Bank Nifty from the consolidation zone of 56,000–53,500.
World Markets and the Israel-Iran Conflict :
Strong investor optimism was reflected in the benchmark index, which was supported by the truce in the Middle East appearing to be stable and allaying worries about possible supply chain interruptions. The narrowing yield differential between U.S. and Indian 10-year bonds caused FIIs to keep reducing their holdings, while DIIs became net buyers as a result of better liquidity and a recovery in local demand. According to Vinod Nair, Head of Research at Geojit Investments Limited, important industries like banking and auto showed noteworthy advances throughout the market as a whole, helped by waning domestic inflation concerns.
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