Today Stock Market: When the 20-day EMA is posted on Thursday,the day of the month expiration,24600 is probably going to serve as a solid support. Experts predicted that the Nifty 24900–25000 zone will continue to provide resistance on the rise.
Today’s stock market: The benchmark Nifty-50 Index closed Wednesday’s session on a negative note, down 0.3% at 24,752.45. Despite the fact that the majority of other sectors, including FMCG and healthcare, ended lower, the Bank Nifty gained 0.12% thanks to gains in PSU banks. The small-cap index finished marginally higher in the broader indices,but the mid-cap index remained unchanged.
Thursday’s Trade Setup :
The 20-day EMA is positioned at 24600,which is probably going to serve as a solid support on the day of the month expiration. Nandish Shah,Deputy Vice President at HDFC Securities,stated that the 24900–25000 zone would continue to provide resistance in the Nifty on the upswing.
On the plus side,the Bank Nifty continues to encounter resistance in the vicinity of the 56,000–56,100 range,with the support being at 54,830. according to Asit C. Mehta Investment Intermediates’ AVP of Technical and Derivatives Research,Hrishikesh Yedve.
International Markets and Q4 Outcomes :
Due mostly to the absence of FII support and the current premium values, the domestic indexes continued to be rangebound and negatively biased. An external risk still exists because of persistent worries about trade relations between the US and India after the 90-day halt period ended. Important economic indications on the home front, such a more optimistic monsoon forecast, a low inflation outlook, and anticipations of a higher Q4 GDP, might help reduce negative risks. According to Vinod Nair, Head of Research at Geojit Investments Limited, stability in the direction depends on earnings visibility improving in parallel with the economy.
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