Indian Stock Market Today: The Indian stock market is expected to start Thursday’s trading session on a weaker note, following mixed global cues. The Gift Nifty index, which gives early hints about market trends, was trading at 23,366—about 67 points below the previous Nifty futures close. This suggests a negative start for benchmark indices like the Nifty 50 and Sensex.
Investor mood has been affected by recent comments from U.S. Federal Reserve Chair Jerome Powell. He indicated that the central bank is in no rush to change interest rates and will wait for more clarity on the economic outlook. This cautious stance has led to some uncertainty in the global markets, which is reflecting in the Indian markets as well.
Despite the global pressure, Indian indices had a strong performance on Wednesday. The Sensex rose by 309 points to close at 77,044.29, while the Nifty 50 gained 108 points to finish at 23,437.20. Both indices formed bullish candlestick patterns, which are seen as positive technical signals by traders.
According to technical experts, the Nifty 50 has broken a major resistance at 23,360 (200-Day EMA) and now looks set to move towards the next hurdle at 23,870. Support is expected around 23,270. The open interest data from the derivatives market shows strong resistance near 23,800 and 24,000, while support is concentrated around the 23,300 mark.
Analysts believe the overall trend remains positive. However, if the index falls below 23,270, it might face short-term pressure.
The Sensex is showing an upward trend as long as it stays above 76,550. Analysts say it could rise to 77,300 or even higher if momentum continues. But if it drops below 76,550, the index might retest the 76,200 range.
The Bank Nifty index also showed strong movement on Wednesday, jumping over 738 points to close at 53,117.75. It formed a solid bullish candle, suggesting ongoing strength. Experts say that as long as it stays above 52,800, it may rise further towards 53,800 or 54,000. The structure shows continued buying interest, which could keep the uptrend intact.
Market Strategy for Traders
Experts suggest using a “buy on dips” approach rather than aggressive buying. Traders are advised to accumulate quality stocks when they are available at lower prices. The recent patterns on the daily charts—including bullish candles and positive RSI indicators—support a cautiously optimistic outlook.
While global signals are mixed and could lead to a lower opening, the Indian stock market remains in a positive zone technically. Traders should watch key support and resistance levels closely, especially in Nifty 50 and Bank Nifty. A patient, long-term approach is recommended, especially amid global economic uncertainty.
Disclaimer:
The information provided in this article is for educational and informational purposes only. It does not constitute investment advice or a recommendation to buy or sell any stocks or financial instruments. Readers are advised to consult a certified financial advisor or conduct their own research before making any investment decisions. The author and publisher are not responsible for any losses or damages arising from investment actions taken based on this content.
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