Sensex Today | Stock Market LIVE Updates: The Nifty needs to close above 23,366 to prevent a fourth straight weekly loss. The Nifty Bank remains the index to watch as it has outperformed the Nifty this week and ensured that the Nifty losses are kept in check despite the underperformance of Indian IT.
Sensex Today | Stock Market LIVE Updates: The bulls would want to make full use of the latest round of de-escalation in West Asia which has sent oil prices tumbling down. It has been a week of what-ifs, as the Nifty has tested waters to breakout from its 500-point range on multiple instances, but has failed on every single attempt.
The first hurdle that the index may encounter is at the 23,300 mark, and if we do open gap up and sustain above that, then this week’s high of 23,425 will be the next hurdle to cross.
The Nifty needs to close above 23,366 to prevent a fourth straight weekly loss. The Nifty Bank remains the index to watch as it has outperformed the Nifty this week and ensured that the Nifty losses are kept in check despite the underperformance of Indian IT.
That index may report gains for the week even as 55,500 level continues to remain a hurdle. Keep an eye on Reliance, Vedanta, oil sensitives, Infosys, Sagility and other stocks.
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