Sensex Today | Stock Market LIVE Updates: Nifty eyes 23,500 after four days of gains, global cues favorable. Crude prices cooling, no new West Asia attacks. Nifty Bank faces resistance at 56,500-56,700. NSE IPO allotment today.
Crude prices are cooling, Brent is on the verge of slipping below $100, bond yields have cooled off as well and there has been no news of any new attacks in West Asia at least as of now.
The Nifty goes into today’s session on the back of four straight days of gains, and also after managing to close above the 23,400 mark, a level it found regular resistance through last week.
The bulls will now aim for 23,500 on the upside and sustaining above that would be a big positive. On the downside, the supports would shift higher towards the 23,300 – 23,350 zone.
The Nifty Bank though, continues to find supply between 56,500 – 56,700 levels, and a break above that would clear the way for scaling back towards the 57,000 mark. The index now has support between 56,250 – 56,150 levels.
The NSE IPO allotment takes place today, another block deal takes place in Pine Labs, and watch for IT stocks as well after the overnight moves in chip stocks.
Watch this space for all the LIVE stock market updates.