The Nifty 50 Lower opened on Tuesday, as part of the gains were returned on Monday with the kick of profits at the main resistance levels. The index is currently trading around 24,780, a decrease of approximately 0.88 % through the day, after a brief restoration of 25,000 at the closure of yesterday.
Today’s tone looks significantly different. Several heavyweight sectors, including banking and information technology services, have opened, while energy stocks also failed to keep them early. The decline is not completely unexpected. The level of 25344 was a ceiling for several weeks, and without the presence of fresh macro winds this morning, merchants tend to short -term exits.
NIFTY 50 (Indexnse: Nifty_50) Technical Analysis
- Current level: 24,780.95
- Immediate support: 24,500
- Resistance: 25200, then 25344
- RSI (14): 57.6 – Reducing reading 60+ yesterday
- MACD: It is still optimistic, but the graph is flattened
- Fantasy: correctively correctively. No landing, just cooling
From a broader point of view, NIFTY 50 is still in a medium -term upward direction, as the price is still higher than SMA for 50 days and more than 200 days. However, without a strong operator such as profit surprises, RBI suspension, or global risk sermon, the index may struggle to seize more than 25,000 in the short term.
The next decisive step probably depends on how the markets digest the digestion of the G4 Q4 G40’s domestic product and whether the FII flows remain stable during the week.
Blogs are over.
