1 day ago
Nifty Holds 24,000 Focus as Weekly Expiry Takes Spotlight
The stock market is watching whether the Nifty can stay above 24,000.
This is an important level for buyers who expect prices to rise.
Buyers also want the Nifty to move above Monday’s high of 24,117.
The Nifty has made lower highs for three days in a row.
The Nifty Bank index rose sharply by about 600 points on Monday.
It finished above 58,000 after being below 57,500 late in the session.
A continued move above 58,000 could be a positive sign.
Traders are also watching auto companies, EPL, Happiest Minds and Sun Pharma for new developments.
Nifty 50’s 24,000 level remains the key support for bulls during weekly options expiry.
Bulls are seeking a sustained move above Monday’s high of 24,117 after three days of lower highs.
Nifty Bank jumped about 600 points on Monday and closed above 58,000.
A sustained Nifty Bank move above 58,000 would be viewed positively.
Investors are watching auto stocks, EPL, Happiest Minds and Sun Pharma for company-specific developments.
- Who
- Traders and investors in the Nifty 50, Nifty Bank and selected stocks.
- What
- The Indian stock market is being monitored during Nifty 50 weekly options expiry, with 24,000 and 58,000 as key levels.
- Where
- The Indian stock market.
- When
- During the weekly options expiry and the start of a new month; the article does not provide a calendar date.
- Why
- Market participants are assessing whether the Nifty can defend 24,000 and whether Nifty Bank can sustain gains above 58,000, while watching company-specific developments.
Key facts
- Key Nifty level
- 24,000 remains the main level bulls need to defend.
- Monday’s Nifty high
- 24,117.
- Nifty trend
- The index has recorded three consecutive days of lower highs.
- Nifty Bank move
- The index rose about 600 points on Monday.
- Nifty Bank close
- Nifty Bank closed above 58,000 after trading below 57,500 at 3:15 p.m.
- Market event
- The session is the weekly options expiry for Nifty 50 contracts and the beginning of a new month.
- Stocks to watch
- Auto stocks, EPL, Happiest Minds and Sun Pharma.
Sources
Related news
Nifty heads into Sensex weekly expiry hoping to conquer 24,500
Nifty futures hint negative start; Brent surges to $91
Nifty Defends 24,000 as Brent Crude Surges Past $95
Nifty futures hint muted start, Brent crude above $84
Nifty Faces 24,000 Support After Seven Straight Losses
Indian Markets Expected Flat After Seven-Session Loss Streak Ends
