Indian stock market indices, Sensex and Nifty 50, are expected to start higher on Thursday, September 5, due to mixed signals from global markets.
Early signs from the Gift Nifty suggest a positive opening for the Indian market. As of 7:07 AM IST, Gift Nifty was trading at 25,369.00, up 118 points from the previous close of Nifty futures.
On Wednesday, the Sensex dropped by 202.80 points, closing at 82,352.64, while Nifty 50 lost 81.15 points, ending at 25,198.70.
Key Market Trends:
Nifty’s Bullish Pattern: Despite opening lower, Nifty formed a bullish candle, indicating a potential “buy on dips” opportunity. According to analysts, the 25,000 level serves as crucial support, and Nifty might soon hit new highs around 25,350 – 25,400.
Market Expert Views:
Nifty Prediction: Technical experts believe the short-term uptrend remains intact. While a drop below 25,080 could lead to further declines, Nifty might bounce back towards 25,250. A surge beyond 25,236 could spark a rally.
Bank Nifty Prediction: After dropping 288.85 points on Wednesday, Bank Nifty has strong support at 51,250. If it holds above this level, it might rise towards 51,800 or even 52,050, but a fall below could push it down to 50,900.
Analysts suggest that any dips in the Nifty index should be seen as opportunities for fresh buying, with possible gains ahead.
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