India’s benchmark indices, the Sensex and Nifty Index, relinquished early gains during afternoon trade, primarily weighed down by underperformance in the metal and energy sectors.
Market Movers: Nifty Index
Top Gainers:
- Interglobe Aviation
- M&M
- Max Healthcare
- Maruti Suzuki
- Tata Consumer
Top Losers:
- ONGC
- Power Grid Corp
- Hindalco
- Bharat Electronics
- Tech Mahindra
Key Share Levels
Traders should monitor the following critical levels for these select stocks:
| Share | Breakout Above | Breakdown Below |
|---|---|---|
| HDFCBANK | 800 | 792 |
| M&M | 3205 | 3165 |
| TATACONSUM | 1136 | 1125 |
| UNOMINDA | 1142 | 1130 |
Nifty Index Outlook for Monday
The Nifty Index 50 is poised for an upward move if it sustains above 24,100, while a break below 24,000 could signal a downward trend. Global market cues will be critical in determining the index’s trajectory.
The Nifty Index continues to consolidate within a critical range following its recent recovery. Immediate resistance is identified between 24,100 and 24,500; a sustained break above this zone is essential to ignite fresh bullish momentum and potentially extend the current rally. Conversely, 24,000 acts as the initial support level, with a breach potentially leading the index towards the stronger support zone at 23,700. Traders are advised to closely monitor these pivotal levels, as a definitive breakout or breakdown will likely dictate the market’s subsequent directional movement.
Option Chain Insights (Nifty Index)
| Key Option Levels | Strike Price & Open Interest |
|---|---|
| Highest Call Writing | 24,100 (1.3 Crore Contracts) |
| Highest Put Writing | 24,000 (1.2 Crore Contracts) |
Nifty Index Support and Resistance Levels
| Support | 24,000–23,700 |
| Resistance | 24,100–24,500 |
Bank Nifty Index Index Outlook for Monday
The Bank Nifty Index Index is anticipated to advance if it trades above 58,500; conversely, a move below 58,000 could indicate a potential decline. Its performance will also be significantly influenced by global market sentiment.
Bank Nifty Index Index Support and Resistance Levels
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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