Today’s Stock Market: The Nifty’s underlying trend is still erratic and has little bias. Experts predict that the Nifty would exhibit a short-term upward bounce towards 24900 in the upcoming sessions, with immediate support at 24500.
Today’s Stock Market: On Monday, the benchmark Nifty-50 index closed another tumultuous day at 24,716.60, down 0.14%. However, the Realty and FMCG index led the gains for many other indexes, while IT and metals were among the losers, and the Bank Nifty gained 0.28% at 55,903.40. Positive momentum was seen in broader indices, as mid and small-cap stocks rose as much as 1.3%.
Tuesday’s Trade Setup :
The Nifty’s fundamental trend is still erratic and has little bias. In the upcoming sessions,the Nifty is anticipated to see a short-term upward bounce towards 24900. According to Nagaraj Shetti,Senior Technical Research Analyst at HDFC Securities,immediate support is available at 24500.
According to Bajaj Broking,the major short-term support for the Bank Nifty is located between 54,000 and 53,500, while the immediate support is situated between 55,000 and 55,200.
Today’s International Markets :
For the third week in a row,the domestic market remained in a consolidation phase, driven by growing geopolitical tensions between Russia and Ukraine and fresh worries about a possible tariff war. Despite the fact that investors have become risk apprehensive due to global uncertainty, the Indian market has proven resilient, supported by strong institutional inflows and sectoral strength such as financial equities, real estate, and FMCG. A possible RBI rate drop, a stronger monsoon, Q4 GDP figures, and improved GST collection are examples of supportive domestic macro factors, according to Vinod Nair, Head of Research at Geojit Investments Limited.
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