Indian equity market failed to sustain higher levels and finished moderately lower for the second consecutive session but still held above all key moving averages as of September 5. Overall, the trend remains positive. The Nifty 50 is likely to remain range-bound, with immediate support at 25,080 (the low of the previous day's low, which coincides with the previous swing high of August 1 as well as the 10-day EMA), while resistance remains in the 25,300-25,350 area, according to experts. The GIFT Nifty is hinting at a weak start ahead of US August jobs report later tonight. Among stocks to watch Indigo Paints, Mrs Bectors and Prestige Estates will be in focus. Catch Nandita Khemka in conversation with Raja Venkatraman, Co-Founder, NeoTrader and Feroze Azeez, Deputy CEO, Anand Rathi Wealth.
first published: Sep 6, 2024 09:07 am
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