Stock Market Update: The Sensex and Nifty 50 opened Tuesday’s session flat amid mixed global signals. Sensex fell slightly by 6.57 points to 81,349.28, while Nifty 50 gained 3.30 points to 24,839.40. Asian markets dropped, but Wall Street stayed flat. Investors are waiting for the US Federal Reserve’s rate decision later this week.
Dr. V K Vijayakumar from Geojit Financial Services said retail investors and mutual fund capital flows keep the market strong. However, high prices are a concern. The current positive market trend is due to institutions buying high-quality stocks with strong earnings potential.
Market Outlook – Ruchit Jain
Nifty 50 nearly hit 25,000 but closed just below 24,850. The index is still in an uptrend with no signs of reversal. However, the RSI suggests possible consolidation or pullback. Key supports are at 24,620 and 24,500, while resistance levels are at 25,065 and 25,340. Traders should look for specific stock opportunities and follow the main trend.
Stocks in Focus – Ruchit Jain
Indian Oil Corporation (IOC)
- IOC has been consolidating but looks ready to resume its uptrend.
- Recommended buy range: ₹180-177.
- Potential targets: ₹189 and ₹196.
- Stop loss: Below ₹171.
DLF
- DLF has broken out from a trendline resistance, indicating positive momentum.
- Recommended buy range: ₹855-850.
- Potential targets: ₹900-910.
- Stop loss: Below ₹830.
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