D-St set for a positive opening as GIFT Nifty signals firm start
Indian stock markets are expected to open positively following a volatile session influenced by Q1 earnings and global market trends. Analysts are monitoring support levels as investors navigate inflation data and geopolitical concerns.
Why it matters
Market performance in India impacts investor sentiment and capital allocation in one of the world's fastest-growing economies.
Benchmark indices witnessed heightened volatility on Wednesday amid the ongoing Q1 earnings season. After touching an intraday high of 24,220, the market witnessed profit booking during the latter half of the session. A weaker rupee and firm crude oil prices kept investor sentiment cautious, limiting the upside. Analysts expect the index to extend the recent consolidation and trade in the range of 23,800-24,350. Within the consolidation last Friday's gap area and Monday's low of 24,000-23,950 will act as immediate support.STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a positive startGIFT Nifty on the NSE IX traded higher by 62 points, or 0.26 per cent, at 24,104, signaling that Dalal Street was headed for a positive start on Thursday.Tech View: Short term support is placed at 23,800-23,900 levels being the confluence of the almost identical low of the last 4 weeks and 50 days EMA.
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