Stock Market Today: Gift Nifty Up 145 Pts; Levels To Watch For Nifty, Sensex, Nifty Bank

After a volatile ending to nan April Series contracts, Indian benchmark indices are group to footwear disconnected March bid connected a affirmative note. Strong capacity by nan US stocks successful nan overnight trade, on pinch gains successful Asian peers is apt to spill complete to Dalal Street indices arsenic well. All eyes will beryllium group connected RIL's net owed later today.

Nifty futures connected nan NSE International Exchange traded 144.50 points, aliases 0.59 per cent, higher astatine 24,517.60, hinting astatine a affirmative commencement for nan home marketplace connected Friday. Asian stocks opened higher coming amid nan rising optimism complete complaint cuts and easing tariff warfare concerns on pinch boost from world tech giants.

In nan Asian pack, Japan's Nikkei surged 1.35 per cent, while Hong Kong's Hang Seng added 1 per cent. Australia's ASX 200 was up 0.60 per cent and South Korean KOSPI besides roseate half-a-per cent successful nan early trade. Shanghai Composite inched up somewhat astatine open.

FII buying continued, supporting nan marketplace sentiment. In a affirmative development, nan US indicated that India could beryllium nan first state to motion a waste and acquisition woody pinch nan US, said Siddhartha Khemka, Head - Research astatine Motilal Oswal Financial Services. "Global marketplace cues and Q4 firm net would beryllium nan cardinal drivers for nan market," he said.

Wall Street stocks closed higher connected Thursday, rallying for a 3rd consecutive time pinch a coagulated boost from exertion shares arsenic investors parsed a mixed container of firm net and signs of advancement successful nan US-China tariff stand-off. The Dow Jones roseate 1.23 per cent to 40,093.40, S&P 500 gained 2.03 1.23 per cent to 5,484.77 and Nasdaq Composite jumped 2.74 1.23 per cent to 17,166.04.

The dollar drifted higher connected Friday, pursuing mini losses a time earlier, arsenic traders grappled pinch nan outlook for nan US system pursuing President Donald Trump's erratic messaging connected waste and acquisition deals and Federal Reserve interference. The US dollar was connected nan people to threat nan 4-week losing streak.

Oil prices edged higher connected Friday but were connected way for a play nonaccomplishment arsenic a imaginable OPEC output summation and a imaginable ceasefire successful nan Russia-Ukraine warfare whitethorn raise proviso astatine nan aforesaid clip conflicting US tariff signals limit nan request outlook. Brent crude futures roseate to $66.60 a barrel, while US West Texas Intermediate (WTI) crude added to $62.85 a barrel.

Provisional information disposable pinch NSE propose that FPIs turned nett sellers of home stocks to nan tune of Rs 8,250.53 crore connected Thursday. On nan different hand, home organization investors (DIIs) turned nett sellers of Indian equities to nan tune of Rs 534.54 crore.

This shape of consolidation successful nan scale is successful statement pinch expectations and whitethorn proceed successful nan coming sessions, said  Ajit Mishra, SVP of Research astatine Religare Broking. "Therefore, we urge maintaining a attraction connected banal action and utilizing marketplace dips arsenic buying opportunities. Following their caller outperformance, banking and financial stocks whitethorn spot immoderate consolidation," he said.

Nifty outlook
Shrikant Chouhan, Head Equity Research astatine Kotak Securities believes that nan short-term marketplace texture is bullish, but a caller uptrend rally is imaginable aft nan dismissal of nan 24,350/80,100 guidance zone. "The marketplace could move up to 24,450-24,500 /80,400-80,500. On nan different hand, if nan marketplace falls beneath 24,200/79,600, we could spot a speedy intraday correction down to 24,100/79,300," he said.

While nan short-term sentiment remains strong, signs of fatigue are becoming progressively evident. A mini correction whitethorn hap if nan scale sustains beneath 22,300, said Rupak De, Senior Technical Analyst astatine LKP Securities. "On nan downside, nan Nifty could diminution towards 21,900, while guidance is seen astatine 24,300 and 24,500."

Nifty Bank outlook
Hence, nonaccomplishment to move supra 56,000 levels will lead to immoderate consolidation successful nan scope of 54,400-56,000 successful nan coming sessions, said Bajaj Broking. "While a move supra 56,000 levels will lead to hold of up move towards nan 56,800 area successful nan coming weeks. The cardinal support guidelines is placed astatine 54,000-53,500 levels, being nan Monday’s spread area and nan caller awesome breakout area."

Nifty Bank must decisively surpass nan 56,100 guidance level. The momentum indicators specified arsenic nan regular RSI and MACD show cooling disconnected signals, suggesting reduced bullish strength, said Om Mehra, Technical Research Analyst, SAMCO Securities. "The broader outlook remains constructive arsenic agelong arsenic nan 54,400 to 54,500 area holds connected a closing basis," he added.