Sensex Today | Nifty 50 | Stock Market Live Updates: GIFT Nifty was trading 195 points, or 0.84%, higher at 23,281 on the NSE IX, signalling a positive start for Dalal Street on Monday. Analysts said the near-term bias remains corrective as long as the Nifty trades below the 23,175–23,250 resistance zone, where last month's high coincides with the 50-day EMA. A sustained breakout above this range may signal a pause in the ongoing downtrend.
Sensex Today | Nifty 50 | Stock Market Live Updates: GIFT Nifty signals a positive start; Asian shares trade lower
In short
Early strength on the NSE IX pointed to a higher start for domestic equities, defying the weaker performance seen across broader Asian bourses. Market participants are closely watching the crucial resistance zone spanning 23,175 to 23,250, where the previous month's high meets the 50-day exponential moving average. Analysts emphasize that the Nifty must achieve a sustained breakout above this threshold to pause its current downtrend. Without clearing this level, the index is likely to stay trapped within its ongoing corrective bias.
Key points
- Domestic equities are positioned for an initial bounce despite widespread weakness across…: Domestic equities are positioned for an initial bounce despite widespread weakness across neighboring Asian markets.
- The near-term market outlook remains corrective while the Nifty trades below the 23,175 t…: The near-term market outlook remains corrective while the Nifty trades below the 23,175 to 23,250 resistance band.
- A decisive and sustained breakout above key resistance is required to officially halt the…: A decisive and sustained breakout above key resistance is required to officially halt the ongoing market downtrend.