D-Street set for a cautious opening as GIFT Nifty signals muted start
- The Nifty 50 opened at 23,222, compared with the previous close of 23,447, and later traded near 23,260, down about 0.8%.
- SBI Life and Tech Mahindra led early Nifty 50 gains, while HDFC Life and Bajaj Finance recorded the biggest declines.
- Nifty futures traded near 23,240 after opening lower, with 23,200 and 23,000 identified as potential support levels.
- Analysts said a decisive break below 22,700 could push the Nifty 50 toward 22,500, while sustained trading above 22,800 could support a move toward 23,000.
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Indian stock markets log worst weekly losing streak in 25 years, fall another 1%
Foreign selling, high crude prices, a weak currency, and elevated bond yields continue to weigh as benchmark indices fell nearly 1%. Auto stocks were among the worst performers Thursday due to weaker-than-expected September sales
D-Street set for a cautious opening as GIFT Nifty signals muted start
Nifty fell significantly, closing at 22,716 after hitting a six-month low during the trading session. Foreign investors continued selling shares, contributing to market volatility, while domestic institutions showed buying interest. The rupee settled marginally higher due to RBI interventions and falling oil prices. Immediate support levels are identified around 22550-22500, with resistance expected at 22800-22900. Market sentiment remains cauti…
Technical View: Caution prevails ahead of F&O expiry; Nifty 50 below 22,700 may trigger further pressure; Bank Nifty support seen at 54,000
Experts see the possibility of a pullback rally towards 22,800-22,900 following the recent heavy selling. However, such a rebound is unlikely to sustain amid the prevailing bearish technical setup.
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Bias Distribution
- 67% of the sources lean Right
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