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: Nasdaq CFD opened up by 0.6%, S&P 500 CFD index gained by 0.23%.
- European Markets: DAX CFD up by 0.15%, CAC CFD increased by 0.02%.
- Asian Markets: Nikkei 225 CFD rose by 1.39%, KOSPI index up by 1.02%.
Nifty 50 Outlook
#StreetOpen
Previous Close:
26,032.20
Previous Day Change:
-46.20 (0.18%)
Intraday Supports:
25,904.80
Intraday Resistances:
26,218.30
- Nifty 50 is currently in a downtrend with a potential reversal midchart
- Immediate support is at 25,900 with resistance near 26,050
- Volume spike observed around 25,850 suggests potential upward momentum
- A break above 26,050 could indicate a bullish reversal opportunity
Bank Nifty Outlook
#StreetOpen
Previous Close:
59,273.80
Previous Day Change:
74.45 (0.13%)
Intraday Supports:
58,989.50
Intraday Resistances:
59,798.70
- Bank Nifty has shifted from a downtrend to a strong recovery after hitting a low near 58,900
- Key resistance is at 59,450, with support at 59,100
- A volume spike supports the recent bullish momentum, potentially signaling further gains
- Breakout above 59,450 could lead to a test of higher resistance levels
Previous Day's Market Breadth
Total Advancing Stocks
1764
Total Declining Stocks
1031
Advance-Decline Ratio
1.711
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
17
Declining Sectors
3
Advance-Decline Ratio
5.667
Sector Rotation Analysis
Key Sector Trends
Finance
HDFC Bank and ICICI Bank may face short-term selling as their weightage in Bank Nifty and FinNifty reduces.
Aviation
IndiGo shares fall 3% due to massive flight cancellations, with DGCA launching a probe.
Finance
Kotak Mahindra AMC sees a 50% probability of a 25 bps rate cut amidst mixed signals ahead of monetary policy.
Software & IT Services
Nifty IT emerged as the top sectoral gainer due to a stronger dollar against the rupee.
Pre-Market News
- IndiGo:IndiGo shares fall 3% as DGCA launches probe into airline's massive flight cancellations.
- Nifty 50 Index:Nifty holds key support; volatile trade likely on Sensex expiry.
- JSW Steel:JSW Steel shares fall 1.5% as firm to move Bhushan Power's steel biz into JV with Japan's JFE Steel.
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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