The Indian stock market is expected to open flat on Monday, influenced by mixed global cues.
Market Performance on Friday:
- Sensex: Dropped 53.07 points, closing at 79,996.60.
- Nifty 50: Gained 21.70 points (0.09%), closing at 24,323.85.
Key Insights:
- Gift Nifty: Indicates a flat start, trading around 24,385.
- Bullish Signs: Nifty 50 formed a bullish candle on the daily chart, suggesting a potential positive trend.
- Nagaraj Shetti (HDFC Securities): Nifty may see an upside breakout around 24,400 – 24,500 levels.
Nifty 50 Predictions:
- Support and Resistance:
- Support: 24,180 to 24,050.
- Resistance: 24,350 to 24,450.
- Market Sentiment: Positive, with a possible rise to 24,500 and 24,900 in the near term.
- Rupak De (LKP Securities): Bullish trend likely to continue unless Nifty falls below 24,200.
- VLA Ambala (Stock Market Today): Nifty is overbought but remains bullish. Suggests buying on dips of 5-12%.
Bank Nifty Predictions:
- Current Levels: Fell 443 points to close at 52,660.
- Support and Resistance:
- Support: 52,100 to 52,300.
- Resistance: 53,000 to 53,200.
- Kunal Shah (LKP Securities): Bullish within the current range; declines are opportunities to buy.
- Rahul Ghose (Hedged.in): Bank Nifty likely to trade in a narrow range; cautious optimism due to HDFC Bank’s recent performance.
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