3 weeks ago
Key Nifty, Sensex, Bank Nifty Levels to Watch Today
This news is like a weather report for the stock market, where people buy small parts of big companies.
A market index is a basket of companies whose combined value tells us whether the market is going up or down.
A signal called GIFT Nifty, which trades before Indian markets open, was up a little, suggesting Indian markets might start the day on a positive note.
On the day before, a famous American index called the Dow Jones closed at its highest level ever, partly because people hope there will be peace with Iran.
But another American index, called the Nasdaq, went down a little because a rocket company called SpaceX and a computer-chip maker called AMD had disappointing quarterly reports.
The Reserve Bank of India decided not to change interest rates, which made investors feel calm.
Big investors from other countries bought more Indian shares than they sold, while domestic investors sold a little.
Stock market experts pointed to special price levels, called support and resistance, that tell traders where the market might bounce back or stop.
They expect the market to move sideways for now and suggest buying when prices dip.
GIFT Nifty futures were up 58.30 points (0.24%) at 24,706, hinting at a positive start for Indian markets on Thursday.
The Dow Jones closed at a record on Wednesday amid signs of progress toward a peace deal with Iran, while the Nasdaq saw its first decline in five sessions after SpaceX and AMD stumbled on quarterly earnings.
The Reserve Bank of India kept the repo rate unchanged and retained its neutral stance, supporting largely positive investor sentiment.
Foreign portfolio investors turned net buyers of Indian stocks to the tune of Rs 2,883.17 crore on Wednesday, while domestic institutional investors sold Rs 943.42 crore on a net-net basis.
Nifty faces support at 24,500-24,450 and resistance at 24,700-24,750, while Nifty Bank's immediate resistance is placed in the 58,100-58,200 zone with support at 57,400-57,300.
- Who
- Indian benchmark indices Nifty 50, Sensex, and Nifty Bank, along with analysts from Kotak Securities, Religare Broking, LKP Securities, SBI Securities, SAMCO Securities, and Choice Equity Broking.
- What
- A daily pre-market outlook detailing GIFT Nifty gains, global market cues, key support and resistance levels, India VIX, and FII-DII flows.
- Where
- India's domestic equity markets, tracking cues from US markets and Asian shares.
- When
- Thursday, based on Wednesday's closing data and overnight movement in global markets.
- Why
- Positive momentum driven by rally prospects after the RBI kept the repo rate unchanged, a record Dow close on Iran peace-deal hopes, and the previous day's AI-driven surge.
Key facts
- GIFT Nifty
- Up 58.30 points (0.24%) at 24,706
- Dow Jones Industrial Average
- Rose 0.49% to a record 54,349.06
- S&P 500
- Shed 0.17% to 7,723.52
- Nasdaq Composite
- Fell 0.83% to 26,363.44
- Brent crude
- $79.31 per barrel, down 0.18%
- Spot gold
- $4,290.26 per ounce, up 1.06%
- India VIX
- Declined to 12.06
- FII/DII flows (Wednesday)
- FPIs bought Rs 2,883.17 crore; DIIs sold Rs 943.42 crore
Quotes
Shrikant Chouhan
Head of Equity Research at Kotak Securities
“"We continue to advocate a 'buy-on-dips' strategy, preferring relatively stronger sectors while maintaining disciplined risk management."”
businesstoday.in
“"We believe that, as long as the market is trading between these ranges, a range-bound texture is likely to continue."”
businesstoday.in









