Stock Market today: Key levels to watch for Nifty & Nifty Bank after Trump tariffs

Stock Market today: Key levels to watch for Nifty & Nifty Bank after Trump tariffs

Indian stock markets are likely to open sharply lower on Thursday following the higher-than-anticipated reciprocal tariffs from the United State on 'Liberation Day' on April 2.

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Nifty futures on the NSE International Exchange traded 251.95 points or 1.08 per cent down, at 23,186, hinting at a negative start for the domestic market on Thursday.Nifty futures on the NSE International Exchange traded 251.95 points or 1.08 per cent down, at 23,186, hinting at a negative start for the domestic market on Thursday.
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Pawan Kumar Nahar
  • Apr 3, 2025,
  • Updated Apr 3, 2025 8:07 AM IST

Indian stock markets are likely to open sharply lower on Thursday following the higher-than-anticipated reciprocal tariffs from the United State on 'Liberation Day' on April 2. Dalal Street is bracing for a shivering gap-down opening following a meltdown in the Asian stocks at the opening tick. Export led sectors like IT, auto and pharma will be buzzing today

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Nifty Bank has retraced just 30 per cent of the preceding 9 sessions rally (47,703-52,063). A shallow retracement and a higher base above the recent breakout area (50,500-50,000) signals overall strength, said Bajaj Broking. The current breather should be used as a buying opportunity in quality stocks in a staggered manner, he said.

"Index has key supports placed at 50,500-50,000 levels, we expect it to hold above the same and gradually head higher towards 52,050 and then towards 53,000 levels in the coming weeks being the measuring implication of the recent range breakout," it added.

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 stock markets are likely to open sharply lower on Thursday following the higher-than-anticipated reciprocal tariffs from the United State on 'Liberation Day' on April 2. Dalal Street is bracing for a shivering gap-down opening following a meltdown in the Asian stocks at the opening tick. Export led sectors like IT, auto and pharma will be buzzing today

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Nifty Bank has retraced just 30 per cent of the preceding 9 sessions rally (47,703-52,063). A shallow retracement and a higher base above the recent breakout area (50,500-50,000) signals overall strength, said Bajaj Broking. The current breather should be used as a buying opportunity in quality stocks in a staggered manner, he said.

"Index has key supports placed at 50,500-50,000 levels, we expect it to hold above the same and gradually head higher towards 52,050 and then towards 53,000 levels in the coming weeks being the measuring implication of the recent range breakout," it added.

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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