5 days ago
GIFT Nifty Signals Gap-Down Start as Crude Rises
The article says Indian stock markets may open lower.
GIFT Nifty was pointing to a drop of about 150 points.
Higher crude oil prices and rising US bond yields were creating pressure.
Brent crude was around $108 per barrel.
Traders were watching 23,380 and 23,500 for the Nifty 50.
They were also watching 56,231 and 56,500 for the Nifty Bank.
Some newer stocks were still performing better than the broader market.
Six IPOs were due to close for subscriptions, and several companies were highlighted for attention.
GIFT Nifty indicated a possible 150-point gap-down opening for Indian equities.
Brent crude stood near $108 a barrel, while the US 10-year yield approached 5%.
Nifty 50 support at Thursday’s intraday low of 23,380 and resistance near 23,500 were highlighted.
Nifty 50 needed to close above 23,897 to avoid a weekly loss, while Nifty Bank levels of 56,231 and 56,500 were key.
Six IPOs that opened for subscription on Wednesday were scheduled to close, while Granules, Vodafone Idea and Godrej Properties were flagged for attention.
- Who
- Indian equity-market participants, including traders watching the Nifty 50, Nifty Bank and selected listed companies.
- What
- A live market update warning of a possible gap-down opening and highlighting important index levels, crude prices, bond yields and IPO activity.
- Where
- Indian stock markets, with global signals from crude oil and US bond markets.
- When
- The session following Thursday’s market action; the exact date is not provided.
- Why
- GIFT Nifty suggested weakness, while higher Brent crude and a US 10-year yield nearing 5% added pressure.
Bearish Signals
Areas of Strength
Market direction
Bearish Signals
GIFT Nifty pointed to a 150-point gap-down, while crude near $108 and the US 10-year yield nearing 5% were viewed as negative signals.
Areas of Strength
The Nifty ended near 23,500, and the article noted that some newer listings were still outperforming.
Index outlook
Bearish Signals
Failure to hold Thursday’s low of 23,380 could leave the Nifty vulnerable, while Nifty Bank could move toward 56,000 below 56,231.
Areas of Strength
A move above 23,500 for the Nifty or 56,500 for Nifty Bank would provide important signs of strength.
Key facts
- Expected opening
- GIFT Nifty indicated a possible 150-point gap-down start.
- Brent crude
- About $108 to $108.50 a barrel.
- US 10-year yield
- Nearing 5%.
- Nifty 50 support
- Thursday’s intraday low of 23,380.
- Nifty 50 resistance
- 23,500; a close above 23,897 was needed to prevent a weekly loss.
- Nifty Bank levels
- 56,231 was the key downside level, while 56,500 was the important upside level.
- IPO activity
- Six IPOs opened on Wednesday and were scheduled to close for subscription.
Sources
Related news
Nifty futures hint negative start; Brent surges to $91
Nifty Defends 24,000 as Brent Crude Surges Past $95
Indian Stocks Face Weekly Loss as Bulls Defend Key Levels
Indian Stocks Face Cautious Open as Crude Nears $102
Nifty Bulls Defend 23,800 Ahead of Sensex Expiry
Indian Stocks Face Pressure as Nifty Targets 24,000 Support
Ajit Mishra Recommends Trades in Granules, HAL and HUL Shares
Indian Pharma Seeks US Engagement After Trump's Tariff Plan
Granules India Focuses on Injectables and M&A
Hyderabad Firm Gets US Nod for Generic ADHD Drug
