Nifty 50 & global market trade setup today :
Today’s Stock Market: Since the Nifty-50 index has maintained its level above all significant moving averages, the bullish trend is still strong. According to analysts,24850 and 24975 could provide resistance on the upside,while 24500 and 24378 are significant supports for the Nifty on the downside.
Stock Market Today: The benchmark Nifty 50 closed the day 0.36% higher at 24,666.90 on encouraging global trends. However, the Bank Nifty finished at 54,801.30, down 0.25%. However, broader indices and the majority of other sectors—led by Metals IT, Realty, and Oil & Gas—saw gains.Both small and mid-cap stocks increased by over 1%.
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Thursday’s Trade Setup :
Since the Nifty has maintained its level above all significant moving averages, the bullish trend is still strong. Strong supports for the Nifty are seen at 24500 and 24378 on the downside,while 24850 and 24975 may provide resistance on the upside. according to HDFC Securities’ Senior Derivative & Technical Research Analyst Nandish Shah.
Regarding Bank Nifty Between 54,500 and 54,000 is where the short-term point of view is most strongly supported.
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