India Market Open Summary
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Indices
Note :
- 'Open' prices are based on pre-market indicators and may differ slightly at actual market open.
- Traders are advised to wait for the first 30 minutes of trading to gauge market direction more accurately.
- Always use proper risk management techniques, especially on days with higher volatility.
Top Gainers and Losers :
Top Gainers
Top Losers
Note :
- Last Price and Change are as of market open.
- Volume represents the number of shares traded in the first 15 minutes of trading.
- 52-Week High and Low are based on the previous trading day's close.
Global Markets Overview: Positive
Major global indices are showing positive trends, indicating a favorable environment for Indian markets.
- U.S. Markets: S&P 500 CFD opened up by 0.3%, Nasdaq CFD index gained by 0.18%.
- European Markets: DAX CFD up by 0.84%, CAC CFD increased by 0.43%.
- Asian Markets: Straits Times CFD fell by -0.43%, KOSPI index down by -0.19%.
Nifty 50 Outlook
#StreetOpen
Previous Close:
25,986.00
Previous Day Change:
47.75 (0.18%)
Intraday Supports:
25,805.70
Intraday Resistances:
26,156.60
- NIFTY50 is currently in a consolidation phase after an initial downtrend, settling around 26,010
- Key support is seen at 25,960, while resistance stands at 26,050
- Significant volume spikes are observed during the early selling phase, with a momentum shift towards recovery
- The index may face bearish pressure if it fails to break above 26,050
Bank Nifty Outlook
#StreetOpen
Previous Close:
59,348.25
Previous Day Change:
-59.55 (0.10%)
Intraday Supports:
58,740.42
Intraday Resistances:
59,718.82
- Bank Nifty is recovering from a downtrend, showing signs of a potential reversal
- Immediate resistance is at 59,480 while support is around 59,120
- Volume spikes occurred during the uptrend, indicating strong buying pressure
- A move above 59,480 could trigger further bullish momentum
Previous Day's Market Breadth
Total Advancing Stocks
1381
Total Declining Stocks
1746
Advance-Decline Ratio
0.791
Sector Watch
Note :
- Sector performance is based on the first 30 minutes of trading.
- Individual stock movements within sectors may vary.
- Investors should consider their risk appetite and investment horizon before making decisions based on short-term sector movements.
Get daily predictions and stock updates
Market Breadth
Advancing Sectors
16
Declining Sectors
4
Advance-Decline Ratio
4.0
Sector Rotation Analysis
Key Sector Trends
FMCG
The proposed overhaul of tobacco taxes is expected to raise cigarette prices modestly, but the impact on listed tobacco companies will be manageable.
Finance
The rupee hit a record low of 90.33 per dollar, triggering sector-wise impact concerns.
Banks
IndusInd Bank is in talks to bring in a strategic partner with global expertise.
Oil & Gas
Petronet LNG shares gain after inking a 15-year deal with ONGC for ethane facilities.
Pre-Market News
- IndusInd Bank:IndusInd Bank shares rise 3% on report of talks to bring in strategic partner.
- Petronet LNG:Petronet LNG shares gain 4% after firm inks 15-year deal with ONGC for ethane facilities.
- Reliance Industries:Citi sees up to 17% upside for Reliance Industries stock due to higher valuation for Jio.
Stocks to Watch
Bank of Maharashtra
Government to divest up to 6% stake in Bank of Maharashtra via OFS.
Bharat Dynamics
Company secures additional orders worth Rs 2,462 crore from The Indian Army.
Force Motors
Total sales up 53% at 2,883 units versus 1,885 units, YoY.
Our Top Research Calls (Previous Day)
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About Author
Santhosh Kumar V.
Founder, CEO Streetgains
Santhosh is a technical analyst, market researcher, educator and trader with 10+ years of experience. He is an expert in the area of patterns, price and time analysis as it applies to futures, Forex, and stocks.
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