📷 Image Credits: Mint
The Indian stock market benchmark indices Sensex and Nifty 50 are likely to see a muted opening on July 8, 2024, amid mixed global cues. The trends on Gift Nifty also indicate a tepid start for the Indian benchmark index, with the Gift Nifty trading flat at around 24,385 level. On Friday, the domestic equity benchmark indices ended mixed amid selling in heavyweights, with the Sensex easing 53.07 points to close at 79,996.60 and the Nifty 50 settling 21.70 points, or 0.09%, higher at 24,323.85.
Nifty 50 formed a reasonable bullish candle on the daily chart, signaling a possible comeback of bulls after a small dip. Technical analyst Nagaraj Shetti from HDFC Securities believes the underlying trend of Nifty is positive, with a possibility of an upside breakout around 24,400 – 24,500 levels in the next few sessions.
Experts like Rupak De and VLA Ambala have shared their insights on the market, highlighting the importance of key support and resistance levels for Nifty 50 and Bank Nifty. Bank Nifty, in particular, witnessed a volatile trading session on Friday, with a range-bound movement noted.
Looking ahead, investors are advised to exercise caution and monitor key levels for potential trading opportunities. Stay tuned for more updates on the Indian stock market as trading unfolds today.
