Sensex Today | Stock Market LIVE Updates: For the Nifty, 23,000 remains key on the upside, above which, the possibility of 23,200 – 23,250 becomes realistic. The bulls would want any potential fall to be cushioned at 22,650 – 22,700 zone. 22,600 is the level that the Nifty needs to close above for a weekly gain. The Nifty Bank ending at the day’s high on Thursday is also a positive.
There could be two impediments to that today. Oil prices remain higher, with Brent still at $115, while the tech stocks globally sold-off sharply overnight. And they were not just the AI and semiconductor names.
Software providers like ServiceNow plunged 27% as well overnight after disappointing results. It will be key to watch how IT reacts, especially since the sector has seen some selling recently after the recovery. In the absence of IT, the onus will be on the Nifty Bank to carry the index forward, as it did on Thursday.
For the Nifty, 23,000 remains key on the upside, above which, the possibility of 23,200 – 23,250 becomes realistic. The bulls would want any potential fall to be cushioned at 22,650 – 22,700 zone. 22,600 is the level that the Nifty needs to close above for a weekly gain. The Nifty Bank ending at the day’s high on Thursday is also a positive.
Crossing 55,000 could make reclaiming 55,500 easier, with supports now at 54,500 levels. Suzlon could be the earnings reaction of the day. The two most important results of the day though – Reliance Industries and Jio Platforms, after market hours.
Watch this space for all the LIVE stock market updates.