2 weeks ago
Nifty Faces Hurdle At 24,600, Sensex Eyes 78,800 Resistance
Imagine a big scoreboard that shows the health of many companies in India all at once.
That scoreboard is called the stock market.
Two very famous parts of it are called Nifty and Sensex.
Last week, both went down a little bit, like a slide in a playground.
Why?
Because there is some worry happening between the US and Iran, and oil has become more expensive.
When oil costs more, companies have to spend more money, so investors feel less happy.
Experts think Nifty might have a hard time going above 24,600 points.
If it manages to get past that, it could climb even higher.
Sensex might struggle around 78,500 to 78,800 points.
Right now, everyone is watching carefully to see what happens next.
Nifty closed the week at 24,366, down 0.83 per cent, ending a two-week winning streak.
Sensex finished the week at 78,009.25, a weekly decline of 0.62 per cent.
Experts see the 24,600-24,650 zone as key resistance for Nifty; a decisive close above 24,600 could open the way to 24,800-25,000.
Sensex faces resistance between 78,500 and 78,800, with immediate support in the 77,700-77,500 range.
US-Iran tensions, developments around the Strait of Hormuz, and rising crude oil prices prompted profit-booking.
- Who
- Investors and market experts tracking Indian benchmark indices Nifty and Sensex.
- What
- Indian benchmark indices are expected to stay cautious, with Nifty facing resistance near 24,600 and Sensex near 78,500-78,800, after both ended last week lower.
- Where
- Indian equity markets, centred in Mumbai.
- When
- The outlook covers the coming week, after both indices fell in the previous week.
- Why
- Geopolitical concerns over the US-Iran standoff and the Strait of Hormuz, plus rising crude oil prices, prompted profit-booking.
Key facts
- Nifty Weekly Close
- 24,366
- Nifty Weekly Change
- -0.83%
- Sensex Weekly Close
- 78,009.25
- Sensex Weekly Change
- -0.62%
- Nifty Resistance Zone
- 24,600-24,650
- Sensex Resistance Zone
- 78,500-78,800
- Sensex Support Zone
- 77,700-77,500
- Broader Markets
- MidCap +0.50%, SmallCap -0.66%









