Nifty, global cues & Q1 results set trade tone : July 15,
Stock Market Today: The lower end of the Nifty-50 index has support between 24,900 and 24,950.It appears that a rally towards 25,350 is feasible if this zone holds. But experts warned that failure to maintain over 24,900 could lead to a more severe corrective phase.
Stock Market Today: The benchmark Nifty-50 index ended the week 0.27% lower at 25,082.30, indicating that the markets continued to be lackluster on the opening day of the new week. The Bank Nifty ended the day flat at 56,765.35, with the Healthcare and Realty indices among the top gainers and IT among the top losers.Small and mid-cap companies saw gains of 0.7–1.00 percent in the larger indices.
Tuesday Trade Setup :
On an intraday basis,the Nifty-50 index fell toward 25,000,which is quite near to the 50-DMA (day moving average). Support is positioned at 24,900–24,950 on the lower end.It appears that a rally towards 25,350 is feasible if this zone holds. According to Rupak De,Senior Technical Analyst at LKP Securities,a deeper correction phase might be triggered if the price fails to hold above 24,900.
According to Bajaj Broking,the key short-term support for the Bank Nifty is situated in the 56,000–55,500 range.
Today’s world markets and Q1 findings :
According to Ajit Mishra,SVP,Research,Religious Broking Ltd.,markets will respond to the Q1 results of IT giant HCL Technologies in early trade on Tuesday.This will be important for assessing mood in the IT sector after TCS’s recent disappointment.
Investors also continue to keep an eye on developments regarding tariffs and how they might affect international markets.We are still seeing sector-specific opportunities in this mixed climate.Mishra went on to say that players should continue to concentrate on risk management and stock selection.
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