business

Nifty Poised for Strong Start as Wall Street Hits New High on Fed Rate Cut Bets | Opening Bell

The Nifty 50 gave back some of its previous day’s gains on August 12, closing 98 points lower after failing to hold the 100-day EMA. The index dropped over 200 points from the day’s high of 24,700, which now stands as an immediate resistance, followed by the key hurdle near the 50-day EMA at 24,850. Experts say the market may continue consolidating until these levels are decisively broken, with strong support at 24,300 — a breach of which could trigger renewed bearish momentum. Global cues remain positive, with Wall Street rallying overnight and GIFT Nifty signaling a strong start. Stocks to watch include ONGC, Apollo Hospitals, and Nykaa. Join Nandita Khemka in conversation with Sudeep Shah of SBI Securities and Radha Raman Agarwal of Swyom Advisors.

first published: Aug 13, 2025 08:58 am