Nifty eyes relief rally on tariff hopes, FIIs remain a drag
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A market rebound is likely early in the shortened trading week after US Treasury Secretary Scott Bessent on Friday signalled the potential removal of an additional 25% tariff on India. Though the market looks oversold after last week’s sell-off, any possible bounce would depend on a decline in foreign institutional selling. Markets are shut today for Republic Day. Most analysts identify the 24,650– 24,900 zone as a crucial support area. Any recovery, however, is expected to face stiff resistance in the 25,300–25,400 zone, with a more durable improvement in sentiment likely only if the index manages to reclaim higher resistance bands closer to 25,600 and above. Agencies CHANDAN TAPARIA HEAD – DERIVATIVES & TECHNICALS, WEALTH MANAGEMENT, MOTILAL OSWAL FIN SERV Where is the Nifty headed? The immediate trend of the index and the broader market remains weak amid global uncertainties and sustained FII selling pressure. However, the silver...