Nifty 50, global trade set by Israel-Iran news : June 23
Stock Market Today: According to experts, a sustained move above the 25,200 level would signal a breakout as the Nifty has nearing the top band of its consolidation zone.
Stock Market Today: The benchmark Nifty-50 Index closed the week ending June 20th at 25,112.40, up more than 1% from the previous week. The IT index was also among the gainers, although metals and pharmaceuticals were among the major losers. The Bank Nifty followed suit, finishing with 1.2% gains at 56,252.85. The mid- and small-cap stocks ended up to 1% lower than the larger indices.
Monday’s Trade Setup :
The upper band of the Nifty’s consolidation range has once again been in reach. A breakout would be confirmed by a persistent move over the 25,200 mark, which may pave the way for a surge toward the 25,600–25,800 range. According to Ajit Mishra,SVP,Research,Religare Broking Ltd.,24,700 and 24,400 will be immediate and critical support levels on the downside.
According to Mishra,the Bank Nifty recovered its positions above the 56,000 barrier and could now progressively go up into the 57,000 and 58,200 levels.
The Israel-Iran conflict and international markets.Despite midweek volatility brought on by rising Middle East tensions and a steep increase in crude oil prices,the Indian stock market ended the week strong. Financial equities were boosted by the Reserve Bank of India’s loosening of project financing regulations. According to Vinod Nair, Head of Research at Geojit Investments, the RBI’s persistently dovish tone—which suggests possible rate cuts upon confirming low inflation—further bolstered market confidence and established monetary policy as a crucial stabilizing factor in the face of global uncertainties.
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