GIFT Nifty down 550 points; here's the trading setup for today's session
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Indian equity markets are seeing a bearish undertone in response to the deepening military conflict across the Middle East, which pushed crude oil prices markedly higher. Analysts say a decisive break below 24,600 could trigger another leg toward 24,400. Conversely, a sustained move above 25,200 on a closing basis is required to neutralize the immediate downside bias and signal stabilization. STATE OF THE MARKETS GIFT Nifty (Earlier SGX Nifty) signals a gap-down start GIFT Nifty on the NSE IX traded lower by 557.50 points, or 2.23 per cent, at 24,435, from Monday's close signaling that Dalal Street was headed for a gap-down start on Wednesday. Tech View: Key support is placed at 24,600; a decisive break below this level could extend the decline towards 24,200. On the upside, immediate resistance is seen at 25,000 and a break above the same will attract a short covering towards 25200 levels. India VIX: India VIX, which is a measure o...