nifty 50 share price today : May 06, 2025
Today’s Stock Market: With strong support in the 24,200–24,250 zone and resistance at 24,500–24,550, the Nifty index is still trading in the restricted range of 24,200–25,500. Analysts stated that as long as the Nifty remains above 24,200, the prognosis remains optimistic.
Stock Market Today: The benchmark Nifty-50 index ended the week at 24,461.15, up 0.47% from the beginning. However, the Bank Nifty finished 0.30% lower at 54,919.50. The majority of other indexes, however, including those for automobiles, oil and gas, and fast-moving consumer goods, were the winners, and the overall markets saw gains of more than 1%.
Also Read : Nifty setup amid India-Pakistan tensions : May 05, 2025
Tuesday’s Trade Setup :
With strong support in the 24,200–24,250 zone and resistance at 24,500–24,550, the Nifty index is still trading in the restricted range of 24,200–25,500. According to Vatsal Bhuva, a technical analyst at LKP Securities, the view remains favorable as long as the Nifty maintains above 24,200, but a solid closing over 24,550 is necessary for confirmation.
In the upcoming weeks,a sustained move above the most recent high of 56,098 might lead to additional upside toward the 56,800 levels for the Bank Nifty. According to Bajaj Broking,the main support on the downside is located between 54,000 and 53,500.
International Markets and Q4 Outcomes :
We anticipate that the market will continue to consolidate with a positive bias while monitoring global indicators and geopolitical developments, particularly those pertaining to India and Pakistan. With businesses like Godrej Consumer,BSE,HPCL,CG Power,and Polycab,among others,publishing results tomorrow,result reactions will drive sector/stock-specific moves,according to Siddhartha Khemka,Head-Research,Wealth Management,Motilal Oswal Financial Services Ltd.
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