Stock Market Today:
Indian benchmark indices extended losses for the second straight week, with the Nifty 50 slipping 1% (230 points) to 25,492.30 and the Sensex down 0.86% (722 points) to 83,216.28. The Bank Nifty, however, ended slightly higher by 0.17%, supported by gains in PSU banks.
Market Outlook:
Abhinav Tiwari, Research Analyst at Bonanza, advised caution as investors await key U.S. economic indicators, including the ISM PMI reports, which could shape global sentiment and capital inflows into India. Domestically, the RBI’s policy decisions and Q2 corporate earnings are expected to influence market direction.
Trade Setup for Monday:
According to Rupak De, Senior Technical Analyst at LKP Securities, the Nifty 50 remains below its 50EMA, signaling short-term weakness. The index has been under pressure since forming a double top near 26,100.
“Resistance is seen at 25,600, keeping the bias tilted toward a sell-on-rise approach,” said De. “Support lies at 25,400, and a break below this level may accelerate bearish momentum.”
