3 days Ago
The Indian stock market is expected to open lower on Thursday, April 17, tracking mixed cues from global markets. The trends seen on Gift Nifty indicate a negative start, with it trading around the 23,366 level, which is a discount of almost 67 points from the previous close, according to a Mint report. Also Read: OpenAI's Sam Altman announces hiring: 'If you have a background in.
..' On top of this, global investor sentiment got dented after US Federal Reserve chair Jerome Powell said on Wednesday that the central bank would wait for more clarity on the economic outlook before changing its interest rates.
Previously, the benchmark BSE Sensex closed 309.40 points or 0.40% in the green, reaching 77,044.
29, while the broader NSE Nifty closed 108.65 points or 0.47% up, hitting 23,437.
20. “On the technical front, the Nifty formed a bullish candle on the daily chart and successfully crossed the key hurdle of the 100-Day Simple Moving Average, placed near 23,390, reinforcing underlying strength,” said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd.
“On the upside, the 23,700–23,800 zone will act as the next major resistance.” Also Read: Airtel SIM cards delivered in 10 mins on Blinkit now. Check details here Meanwhile, Kunal Kamble, Senior Technical Research Analyst at Bonanza said that the Nifty's state “indicates a breakout.
” “As today is both the expiry and the last trading day of the week, the market may witness some profit booking at higher levels,” he added. “Option data suggests the expiry could be above 23,300 but is unlikely to go beyond 23,500 as of now.” Meanwhile, Bank Nifty rallied by 738.
25 points, or 1.41%, closing at 53,117.75 previously.
Also Read: Google search engine's URL is changing. Here's what it will look like “Bank Nifty continues to outperform and is currently placed firmly above the 53,000 level," Bajaj Broking Research wrote. "Structurally, Bank Nifty is showing resilience as compared to the benchmark as it witnessed the strongest candle last month post June 2024 and is now witnessing a follow-through buying demand in the current month, indicating revival in upward momentum.
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