D-Street poised for a positive start as GIFT Nifty trades firmly higher
Indian equity markets are expected to open higher following positive signals from the GIFT Nifty, despite recent losses and global market volatility. The report highlights resistance and support levels for traders while noting the impact of global tech stock declines.
Why it matters
Understanding market resistance and support levels helps investors manage risk during periods of global economic uncertainty and sector rotation.
Indian equity benchmarks extended their losing streak to a third consecutive session, as persistent selling pressure and weak global cues weighed on sentiment. On the upside, analysts say reclaiming 22,800 would be necessary to improve near-term stability and create scope for a recovery. On the downside, the 22,600–22,550 range forms the immediate support zone. A sustained breakdown below 22,500 could accelerate selling pressure and drag the index towards the 22,300–22,200 region.STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a positive startGIFT Nifty on the NSE IX traded higher by 121.5 points, or 0.53 per cent, at 22,836, signaling that Dalal Street was headed for a positive start on Friday.Tech View: On the upside, immediate resistance is placed at 22,800 (20-DMA zone) and 23,000, while 22,600 remains a crucial support.
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