GIFT Nifty displayed green, hinting a volatile but gap-up start to the market.
GIFT Nifty closed with good gaining momentum, reflecting a cautious but green market mood before today's session. The index recorded 0.42% uptrend after trading in the restricted range, indicating the investors' wait-and-watch yet positive attitude on account of mixed global and domestic signals. This performance reflects the eagerness in the direction of the market as investors seek new triggers to direct buying or selling momentum.
The muted settlement of GIFT Nifty futures, which are traded before the normal NSE session, suggests a highly volatile but gainful opening of the market today. Market analysts expect investors to remain cautious and experience swings but profiteering morning hours. External influences like global monetary policy sentiments, geopolitical events, and forthcoming economic data releases should also shape such volatility.
The present market sentiment is driven by expectations of a rate cut by the US Federal Reserve, GST rate rationalisation talks in India, and conflicting messages in global trade developments. These factors lead to a situation where stock-specific action is more intense compared to widespread rallies or falls. Therefore, traders can expect a volatile session with quick changes in market sentiment.
Analysts have pointed to a few important stocks likely to capture investor attention today on the basis of sectoral trends and recent corporate events. These are:
Technically, the Nifty index is likely to face crucial support at 24,800 levels, and resistance at 25,000 levels which would be the turning point for market trend. Crossing the resistance level could bring fresh buying interest, but breaking of support levels could see further pressure building up. Investors and traders would observe the relevant levels and remain sensitive to global cues and economic reports in order to steer through the anticipated volatility.
