Nifty Short-Term Downtrend Reverses: Key Sensex and Market Insights
Market Overview
Sensex news indicates a reversal in the recent downtrend of the Nifty, forming a doji-like candle, which symbolizes a potential shift in market sentiment. Analysts suggest that a decisive move above the crucial resistance levels could lead to an uptrend. The current sentiment raises signals for traders, especially concerning levels on the BSE and NSE.
Key Financial Developments
- SpiceJet: The airline is restructuring its financial obligations, where Carlyle Aviation will forgive lease arrears worth USD 40.17 million.
- Gold Prices: A notable jump in gold prices reaching Rs 74,100 per 10 grams, following increased demand from jewelers.
- Oyo: Reported its first-ever profit, a PAT of Rs 229 crore for FY 2024, marking significant recovery from previous losses.
Market Indicators
Currently, the Nifty is testing crucial resistance at 25,200 levels. A breakthrough could signify a rally towards new highs, whereas immediate support exists at 24,900 levels. Monitoring the open interest (OI) is essential, with major builds observed at the 25,100 and 25,200 strike prices on calls, while puts are concentrated at 25,000.
Upcoming Economic Data
- U.S. inflation data is set to impact Federal Reserve rate expectations.
- OPEC will publish its oil market report, which may influence global oil prices.
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.