Nifty 🔴 Weak below 24,160; 24,000 remains the principal support
Bank Nifty 🟡 Banking support will be crucial for any broader-market recovery
Gift Nifty indicates a sharp negative opening, although Nvidia’s strong earnings and the Nasdaq rally may prevent indiscriminate selling in technology shares.
Nifty closed at 24,090.85, below its pivot point and several important moving averages. Short-term and long-term trends are bearish,
Reliance remains technically bearish, but it is deeply oversold. Sell only below Rs. 1,273 for targets of Rs. 1,265 and Rs. 1,250.
MCX crude oil may remain under selling pressure, although geopolitical headlines can produce sharp intraday recoveries. International crude has fallen for four consecutive sessions
Gold declined 0.52% to $4,576.62 but retained substantial monthly and yearly gains. The immediate trend is cautious because prices remain below $4,600 and the Q3 forecast.
