👉 NSE Nifty 50 is showing negative sentiment on both daily and weekly charts, according to analysts.
👉 U.S Markets closed higher on Friday, with companies declaring strong results.
👉 The larger market texture remains weak, and a fresh sell-off may occur if Nifty falls below 24,650 and Sensex below 80,800.
👉 Nifty could slide towards 24,500-24,450 and Sensex could reach 80,500-80,300
👉U.S VIX is below 18, indicating reduced volatility.
👉 Key resistance for Nifty is around 24,900 and 81,500 for Sensex. A breakthrough above these levels could push Nifty to 25,000-25,050 and Sensex to 82,000-82,200.
👉 For Bank Nifty, the 50-day SMA will act as a key trend indicator for short-term traders. Holding above this level could lead to a rise toward 52,500-53,000.
👉 A drop below the 50-day SMA or 52,500 could weaken the uptrend in Bank Nifty, prompting traders to consider exiting long positions.
👉The slowdown in growth and narrowing net interest margins signal potential continued corrections for banks and NBFCs in the coming quarters.
👉 Strong inflows from domestic institutional investors and SIPs have so far supported the market's strength, but if corporate earnings fail to meet high valuations, a price or time correction may occur.
👉 On Friday, Nifty 50 snapped a three-session losing streak, ending 104.20 points or 0.42% higher at 24,854.05.
👉 Sensex also gained 218.14 points or 0.27%, ending at 81,224.75.
👉 Despite Friday’s gains, both Nifty and Sensex saw intraday declines, with Nifty dropping to 24,567.65 and Sensex falling to 80,409.25.
👉 The Nifty October futures gained 0.49% to 24,949, with a premium of 95 points.
👉 The Bank Nifty October futures rose 1.69% to 52,310, with a premium of 216 points.
👉 FII/DII Action: FPIs remained net sellers for the 15th consecutive session, offloading stocks worth Rs 5,485.7 crore.
👉 DIIs continued to be net buyers for the 19th straight session, purchasing stocks worth Rs 5,214.8 crore.