Stock market today: Gift Nifty down 885 points; bloodbath on D-St likely today?

Stock market today: Gift Nifty down 885 points; bloodbath on D-St likely today?

Nifty futures on the NSE International Exchange traded 885.65 points or 3.85 per cent down, at 22,072.65, hinting at a negative start for the domestic market on Monday.

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Asian stock markets plunged on Monday as fears of a global trade war saw Wall Street futures dive, and investors wagered the mounting risk of recession.Asian stock markets plunged on Monday as fears of a global trade war saw Wall Street futures dive, and investors wagered the mounting risk of recession.
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Pawan Kumar Nahar
  • Apr 7, 2025,
  • Updated Apr 7, 2025 7:25 AM IST

Indian benchmark indices are likely to open sharply lower on Monday, bracing for a tariff wrath. The fallout from US President Donald Trump's declaration of in effect a trade war via reciprocal tariffs against the world continued over the weekend, triggering a sharp sell-off in the global markets across the asset classes.

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For Nifty Bank, the 200-day SMA, or 51,000, is a critical support zone. As long as it is trading above this level, the bullish setup is likely to continue, said  Amol Athawale, VP-Technical Research at Kotak Securities. It could move to 52,200-52,500 on the upside. "If it falls below 51,000, the uptrend would become vulnerable. In that case, traders may prefer to exit their long positions," he said.

Nifty Bank on the weekly chart formed a small bull candle which remained enclosed inside previous week range signaling consolidation after recent strong up move, said Bajaj Broking Research. "We believe the current breather should be used as a buying opportunity in quality stocks in a staggered manner," it said.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

Indian benchmark indices are likely to open sharply lower on Monday, bracing for a tariff wrath. The fallout from US President Donald Trump's declaration of in effect a trade war via reciprocal tariffs against the world continued over the weekend, triggering a sharp sell-off in the global markets across the asset classes.

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Related Articles

For Nifty Bank, the 200-day SMA, or 51,000, is a critical support zone. As long as it is trading above this level, the bullish setup is likely to continue, said  Amol Athawale, VP-Technical Research at Kotak Securities. It could move to 52,200-52,500 on the upside. "If it falls below 51,000, the uptrend would become vulnerable. In that case, traders may prefer to exit their long positions," he said.

Nifty Bank on the weekly chart formed a small bull candle which remained enclosed inside previous week range signaling consolidation after recent strong up move, said Bajaj Broking Research. "We believe the current breather should be used as a buying opportunity in quality stocks in a staggered manner," it said.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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