Stock market close: Sensex gains for 2nd day, ends 568 pts up; Nifty near 23,600; metal, auto rise | Markets News

Stock Market LIVE Updates: The markets continued their upward momentum for the second straight session, with the Nifty closing above the 23,500 mark. The index is rebounding from oversold levels, and we anticipate a gradual recovery towards the 23.6 per cent retracement of the recent decline, placed around 23,800. However, the broader trend remains weak as long as Nifty sustains below 24,250 levels. On the downside, immediate support is now placed at 23,250, followed by 23,000 levels. Meanwhile, India VIX declined sharply by around 9 per cent and slipped below the 20 mark; a further easing in volatility would lend additional comfort to the bulls.

 

View by Nilesh Jain, VP- Head of Technical and Derivative research at Centrum Finverse 

 

Stock Market LIVE Updates: From a technical perspective, Nifty 50 opened with a gap-up and sustained gains, reinforcing the 23,000 level as a strong psychological and demand zone. The index is now approaching the 23,600 resistance area, a zone that previously saw selling pressure, indicating that the broader trend still reflects a sell-on-rise bias. A decisive move above 23,600 could open the path towards 23,800–24,000, although this range is likely to act as a strong supply zone. On the downside, failure to sustain higher levels may lead to a pullback towards 23,500, followed by 23,300–23,350, where strong support is expected due to prior demand and open interest build-up. 

 

Momentum indicators are beginning to show early signs of stabilisation. RSI has improved to around 34, while CCI remains in negative territory but is recovering, suggesting gradual buying interest emerging near lower levels and the formation of a short-term base.

 

View by Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth

Stock Market LIVE Updates: Share price of IDBI Bank continued to remain under pressure, falling 5 per cent to ₹73.35 on the BSE in Tuesday’s intra-day trade amid heavy volumes in an otherwise firm market. Read more. 

Stock Market LIVE Updates: BSE shares were in an uptrend today amid firm buying across the capital market space, supported by strong volumes and positive developments surrounding the National Stock Exchange’s (NSE) upcoming IPO. Read more.