Nifty 50, Sensex Set for Flat Start After US Fed Comments – What’s Next for Indian Stock Market?
The Indian stock market, including Sensex and Nifty 50, is expected to open flat on Tuesday as investors remain cautious following comments from US Federal Reserve Chairman Jerome Powell.
Gift Nifty signals a flat start, trading near 26,000, slightly higher than the previous close of Nifty futures.
On Monday, both Sensex and Nifty dropped more than 1%, with Sensex falling 1,272 points to 84,299.78 and Nifty closing 368 points lower at 25,810.85.
What to Expect for Nifty 50 Today:
- A bearish candle pattern formed, signaling potential short-term weakness, but support is expected around 25,500 – 25,400 levels.
- Open Interest (OI) shows strong support at the 25,500 level.
- Analysts suggest Nifty may see a bounce back from these lows, but further weakness could come if support is broken.
What to Expect for Bank Nifty Today:
- Bank Nifty fell 856 points to close at 52,978.10, with analysts warning of a possible further fall if current support at 52,800 is broken.
Analysts are keeping an eye on key support and resistance levels, predicting potential volatility in the market in the coming days.
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