The key benchmark indices of the Indian stock market may open cautiously as elevated crude oil prices and escalating Middle East tensions overshadow supportive Asian cues.
Balaji Amines closed at Rs. 2,525.20, gaining 4.44% in the latest session. The stock is trading just below its 52-week high of Rs. 2,550, placing it near an important breakout zone.
Nifty must reclaim 24,000–24,050 to signal a sustainable recovery. Until that happens, rallies may encounter selling pressure. Immediate support is placed at 23,800, followed by 23,750.
The Indian stock market may open weak, as Gift Nifty was trading at 23,981, down 0.38%. The decline on Wall Street, rising US Treasury yields and increased expectations of a Federal Reserve rate hike are the principal negative global cues.
Crude oil traded near $91.71 per barrel, extending its weekly advance as renewed military exchanges between the US and Iran increased fears of Middle East energy supplies.
IGL is showing a promising short-term momentum reversal supported by strong volume, an improving MACD and favourable DMI readings.
The technical dashboard presents a mixed structure. Gold’s short-term and long-term trends remain bullish, but the medium-term trend is bearish.
