Benchmark indices Nifty and Sensex are set to open higher on Friday, lifted by easing geopolitical tensions, steady crude prices, and optimism around a potential India-US trade deal. At about 7:40 am, the GIFT Nifty was trading at 25,721, up 172 points or 0.7 percent. Markets have been a solid run, rallying for three days in a row.
US markets rose as the S&P 500 gained 0.8 percent, just shy of its record high. The Nasdaq Composite gained nearly 1 percent, while the Dow advanced 0.9 percent, with both indices inching closer to new all-time highs.In the previous session, Dalal Street saw extended optimism as investors poured their capital into the equity markets. Nifty 50 topped the 25,500 mark for the first time in 2025, led by strong buying interest. The June Nifty series ended today, marking four consecutive series of gains.Here are the key levels to watch out for in today's sessionThe Nifty successfully closed above the immediate hurdle of 25,500, underscoring the strength of current momentum. As the index sustains above this breakout zone, the next leg higher seems imminent. A move beyond today's high would likely re-energise bullish sentiment and potentially drive the index toward the next resistance at 25,750. On the flip side, a breach below the crucial 25,000 level could spark a corrective pullback, though the current chart structure favours a ‘buy-on-dips' strategy as long as support levels remain intact. As the index has closed strongly on monthly expiry, strong rollovers toward the July series can be seen."Nifty Bank index scaled to a fresh all-time high, extending its bullish structure of higher highs and higher lows, indicating more room on the upside. If the index manages to break above today's high, a fresh wave of buying could push it toward the next target at 57,950. Conversely, a break below the crucial 56,500 mark might invite a corrective pullback, but as long as the support levels hold, the broader structure favours accumulation on declines," Dhupesh Dhameja of SAMCO Securities said.India VIX continued its downward trend, slipping another 2.87 percent to close at 12.59. Its sustained position below the 15-mark indicates a calm and stable environment in the broader market. "This low-volatility landscape indicates reduced fear and bolstered investor confidence, both of which are conducive to a steady upward trend," Dhameja added.The Put-Call Ratio (PCR) has improved to 1.20 from 1.05 in the previous session, reflecting enhanced put writing and highlighting a distinctly bullish undertone.source: Network 18
No comments:
Post a Comment