Indian Stock Market Breaks Resistance;
The Indian stock market is expected to open with a slightly positive tone on September 17, even though global markets are showing weakness due to caution ahead of the US Federal Reserve’s policy announcement.
On Tuesday, Indian markets closed strong. The Sensex jumped 595 points to end at 82,380, and the Nifty 50 gained nearly 170 points, closing at 25,239. The positive trend was backed by technical signals showing continued buying interest.
The Sensex is in a bullish trend. As long as it stays above 82,000, it may rise further toward 82,800 and possibly 83,100. If it drops below 82,000, it could lose momentum, and traders may exit their positions.
The Nifty formed a strong bullish pattern, showing signs of continuing upward movement. Analysts expect the index to rise towards 25,400–25,500, with support levels near 25,100 and 25,050. Buying on dips remains the preferred strategy.
Open interest data shows strong resistance near 25,200–25,500 and good support around 25,000–25,100. A clear break above resistance can lead to further gains.
The Bank Nifty rose for the tenth straight session, closing at 55,147. A breakout above resistance levels suggests more upside potential, with targets between 55,500 and 56,000. Support is expected at 54,700 and 54,600.
Technical indicators such as moving averages and RSI also support the ongoing bullish trend. Experts suggest that traders can consider buying on dips if markets show short-term corrections.
Disclaimer:
This article is for informational purposes only. It reflects the views of market analysts and does not constitute financial advice. Investors should consult a certified financial advisor before making investment decisions. The stock market is subject to risks, and past performance is not a guarantee of future returns.
ALSO READ: Withdraw Cash Using UPI Without an ATM!
Share
Withdraw Cash Using UPI Without an ATM!
Top 5 Bestselling Cars in India: Prices, Mileage, and Features
