Stock market today: Gift Nifty up 130 pts; key levels to watch for Nifty, Sensex & Nifty Bank
Nifty futures on the NSE International Exchange traded 131.40 points, or 0.54 per cent, higher at 24,274.50, hinting at a positive start for the domestic market on Monday.
- Apr 28, 2025,
- Updated Apr 28, 2025 7:44 AM IST
Indian stock markets are set to open higher on Monday amid a slew of positive cues. However, traders across the globe will be looking at key earnings from the major companies amid the worries of economic slowdown. Also, progress on the trade tariffs shall be keenly watched by the traders.
Bank Nifty formed a bear candle with a lower high and lower low signaling consolidation with corrective bias, said Bajaj Broking. "We expect the index to consolidate in the range of 53,500-55,500, working off the overbought condition developed after the recent strong rally. The key support base is placed at 54,000-53,500 levels, the recent major breakout area," it said.
The 54,500 zone is a key support to watch in the coming sessions. A sustained breakdown below 54,500 could open the gates for further downside towards 54,000 and 53,500, levels where buying interest is likely to emerge, said Choice Broking. "If Bank Nifty manages a strong close above 55,500, it could resume its upward momentum. Traders are advised to maintain a cautious approach," it said.
Indian stock markets are set to open higher on Monday amid a slew of positive cues. However, traders across the globe will be looking at key earnings from the major companies amid the worries of economic slowdown. Also, progress on the trade tariffs shall be keenly watched by the traders.
Bank Nifty formed a bear candle with a lower high and lower low signaling consolidation with corrective bias, said Bajaj Broking. "We expect the index to consolidate in the range of 53,500-55,500, working off the overbought condition developed after the recent strong rally. The key support base is placed at 54,000-53,500 levels, the recent major breakout area," it said.
The 54,500 zone is a key support to watch in the coming sessions. A sustained breakdown below 54,500 could open the gates for further downside towards 54,000 and 53,500, levels where buying interest is likely to emerge, said Choice Broking. "If Bank Nifty manages a strong close above 55,500, it could resume its upward momentum. Traders are advised to maintain a cautious approach," it said.