3 hrs ago
Sensex, Nifty Face Resistance as Asian Markets Trade Mixed
Indian stocks fell for the fourth day in a row on Thursday.
The Nifty and Sensex both ended lower.
Experts say the Nifty may remain weak unless it climbs above 24,000.
Bank Nifty also needs to move above 58,000 to show stronger momentum.
The Sensex could fall toward 76,000–75,700 if it stays below 76,700.
Asian markets were mixed, with the Nikkei lower and the Kospi higher.
The Kospi and Nikkei are moving sideways while investors wait for clearer signals.
Concerns about inflation, interest rates, government debt and conflict-related oil prices are affecting markets.
Nifty fell 0.17% to 23,873 and Sensex declined 0.55% to 76,152 on Thursday, extending losses to four sessions.
Analysts identified 23,850 as Nifty support and 24,000 as resistance, with a sustained move above 24,000 needed to weaken the bearish outlook.
Bank Nifty faces resistance at 57,800–58,000, while support is seen at 57,300–57,200.
Kospi is consolidating between 6,400 and 7,000, while Nikkei resistance is at 65,200 and support at 63,800.
Global bond selling, inflation concerns and interest-rate fears pressured markets, although foreign investors bought ₹6,688 crore of Indian equities on Wednesday.
- Who
- Indian investors, foreign investors and market analysts covering the Sensex, Nifty, Bank Nifty, Kospi and Nikkei.
- What
- Indian benchmark indices declined, while analysts outlined support and resistance levels for Friday’s trading session; Asian markets traded mixed.
- Where
- India and major Asian markets, including Japan and South Korea.
- When
- Thursday, September 3, with expectations for Friday, September 4.
- Why
- Markets were pressured by inflation concerns, possible interest-rate increases by global central banks, government debt and global bond selling.
Bearish Case
Bullish Case
Nifty direction
Bearish Case
A Dark Cloud Cover pattern and resistance near 24,000 could signal further weakness; support below 23,850 may lead toward 23,700–23,730.
Bullish Case
Analysts said the sharp gap-down decline could offer a buying opportunity, and a sustained move above 24,000 could improve the outlook.
Bank Nifty direction
Bearish Case
Selling near 57,700–57,800 suggests continued supply, with a possible move toward support at 57,300–57,200.
Bullish Case
A decisive, sustained breakout above 58,000 could turn near-term sentiment decisively bullish.
Sensex direction
Bearish Case
Sentiment may remain weak below 76,700, with the index potentially slipping toward 76,000–75,700.
Bullish Case
A sustained move above 76,700 could create positive momentum toward 77,000–77,200.
Key facts
- Nifty close
- 23,873, down 0.17%
- Sensex close
- 76,152, down 0.55%
- Nifty levels
- Support at 23,850; resistance at 24,000
- Bank Nifty levels
- Support at 57,300–57,200; resistance at 57,800–58,000
- Sensex levels
- Weakness below 76,700; downside zone at 76,000–75,700
- Kospi range
- 6,400–7,000
- Nikkei levels
- Upside above 65,200; downside below 63,800
Sources
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