The Nifty Index 50 index maintained its position above 23,900 today, despite a weaker performance from the Sensex. Sectoral analysis revealed gains in auto, metal, and media stocks, while the banking sector experienced a decline.
Nifty Index 50 Top Gainers:
- Hindalco Industries
- Power Grid Corporation
- Tata Motors Passenger Vehicle
- Eternal
- NTPC
Nifty Index 50 Top Losers:
- ONGC
- ITC
- HDFC Life
- HDFC Bank
- Wipro
Key Intraday Share Levels:
| STOCK | Upside Trigger (Above) | Downside Trigger (Below) |
|---|---|---|
| CGPOWER | 940 | 930 |
| LICHSGFIN | 558 | 552 |
| NATIONALUM | 435 | 430 |
| WAAREEENER | 3165 | 3125 |
Nifty Index 50 Outlook for Friday
The Nifty Index 50 is poised for potential upward movement if it convincingly breaks above the 24,000 level. Conversely, a sustained drop below 23,800 could signal a downward trend. The overall global market sentiment and cues will be critical factors influencing its direction.
During the session, the Nifty Index 50 opened on a positive note, initially trading within a narrow range. The index gained momentum after breaking out of this consolidation, reaching an intraday high of 23,983. However, profit booking at higher levels limited further upside, leading the index to settle at 23,907.
Nifty Index 50 Options Data (Highest Open Interest):
| Highest Call Writing (Resistance) | 23,900 (87.3 Lakh contracts) |
| Highest Put Writing (Support) | 23,800 (59.2 Lakh contracts) |
Nifty Index 50 Support and Resistance Levels:
| Support | 23,800–23,400 |
| Resistance | 23,900 and 24,300 |
Bank Nifty Index Index Outlook for Friday
The Bank Nifty Index Index is anticipated to show an upward trend if it successfully trades above 55,000. Conversely, a fall below the 54,500 level could initiate a downward movement. Similar to the Nifty Index 50, global market cues will significantly influence its trajectory.
Disclaimer : Equity & Trading is Subject to Market Risk. Kindly consult your Advisor Beofre taking Any Entries. Use our Contents for Educational Knowledge Development.
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