Sensex and Nifty Outlook: Strong Momentum in Stock Market Today
Sunday, 29 September 2024, 06:06
Current Market Sentiments
The sentiments for the NSE Nifty 50 remain strong as the index continues to stay above important moving averages. The strength is likely to persist as long as it remains above 25,900, according to an analyst.
Potential Rally for Nifty
On the higher end, a fresh round of rally may begin above 26,300. If the Nifty moves above 26,300, it could potentially rise towards 26,600, according to Rupak De, senior technical analyst at LKP Securities.
Support Levels
- For the Nifty, 26,000–26,100 will act as a key support zone.
- 85,000–85,300 will become a key support level for Sensex, according to Amol Athawale, vice president of technical research at Kotak Securities.
Key Market Watch
Furthermore, Athawale highlighted that for Nifty, the sentiments could change if it falls below 26,000.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.