The Nifty 50 index is showing strong momentum as it continues to trend near record highs, currently trading around 25,933. With global equities recovering and steady foreign investments, Nifty 50 today has sustained its bullish pattern.
Additionally, the Reserve Bank of India’s favourable stance on interest rates is keeping liquidity high in the markets, further supporting the index.
Earnings from big companies in the index have been better than expected, which has kept investors interested and positive. Internationally, markets are becoming more stable, with worries about a recession decreasing and improving overall sentiment. Foreign investors are still investing in Indian stocks, contributing to the ongoing momentum. All these factors together drive the Nifty 50’s performance.
Current Price: 25,933 – Nifty 50 Resistance Levels – Immediate resistance is seen at 26,000, a psychological level that the index is testing. The next resistance zone sits at 26,500, a potential target if the bullish momentum continues.
Nifty 50 Support Levels- 25,344 is a strong support level, where the index might find buying interest if it pulls back. 23,965 offers additional support in case of a deeper correction.
The Nifty 50 is showing a strong uptrend, consistently reaching higher highs and higher lows over recent months.
This post was last modified on Sep 25, 2024, 12:01 BST 12:01