Domestic bourses are tracking positive momentum indicated by the GIFT Nifty, which advanced significantly during morning trade. Market participants are monitoring key technical levels for confirmation of extended upside strength. Enrich Money CEO Ponmudi R highlighted that a sustained move above 24,000 solidifies the bullish trend, with immediate market support positioned between 23,750 and 23,700.
Key points
A sustained and decisive breakout above the 24,000 level is expected to reinforce prevail…: A sustained and decisive breakout above the 24,000 level is expected to reinforce prevailing bullish market momentum.
Strong opening signals provide positive domestic sentiment despite the lack of a clear di…: Strong opening signals provide positive domestic sentiment despite the lack of a clear directional trend across Asian equities.
Traders should monitor the 23,750 to 23,700 range as the primary downside cushion for the…: Traders should monitor the 23,750 to 23,700 range as the primary downside cushion for the market.
Sources checked by our analysis pipeline: 1
Sensex Today | Nifty 50 | Stock Market Live Updates: GIFT Nifty on the NSE IX trades 377 points, or 1.57%, higher at 24,327, indicating a strong gap-up opening for Dalal Street on Thursday.
According to Ponmudi R, CEO of Enrich Money, a decisive and sustained breakout above the 24,000 mark strengthens bullish momentum and opens the door for further upside. On the downside, the 23,750–23,700 range acts as the immediate support zone.
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