Market Performance
The Indian stock market ended Tuesday on a positive note, with the Nifty 50 registering a modest gain of 0.17% to close at 24,167.25. The Bank Nifty outperformed the broader market, rising by 0.62% to settle at 55,647.20.
Among sectoral indices:
- Realty and FMCG led the charge with strong gains.
- IT and Oil & Gas lagged, dragging overall sentiment slightly.
- Broader indices also gained around 0.50%, reflecting steady buying interest.
Key Levels to Watch for Nifty 50 to Q4 Results
As the focus shifts to upcoming Q4 corporate results, traders are keeping a close eye on support and resistance levels:
- Support zones: 24,100 and 24,000
- Resistance zones: 24,250 to 24,350
A dip below 24,000 may change the current positive market sentiment. Meanwhile, Bank Nifty shows resistance at 56,000 and crucial support at 54,470.
Q4 Earnings and Market Outlook
The ongoing Q4 results season is expected to drive sector-specific action. Several major companies are set to report earnings, which may influence the broader market direction.
Companies Announcing Q4 Results Today:
- LTI Mindtree
- TATA Consumer
- Bajaj Housing
- 360 One WAM
In addition, positive sentiment is supported by:
- Hopes of a bilateral trade agreement between India and the US
- Continued FII inflows
- Supportive policies from the RBI
Summary of the Article
- The Nifty 50 closed at 24,167.25, up by 0.17%
- Bank Nifty surged 0.62% to 55,647.20
- Key support for Nifty stands at 24,000, with resistance near 24,350
- Positive momentum expected to continue as Q4 results unfold
- Sectoral gains were led by Realty and FMCG, while IT and Oil & Gas underperformed
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