Today’s Current Affairs: Indian Stock Market Snapshot
On Wednesday, the Indian stock market experienced a slight dip after a three-day winning streak, with the Nifty 50 holding at the 22,200 level. The Sensex closed at 72,987.03, down 117.58 points, while the Nifty 50 settled 17.30 points lower at 22,200.55.
The technical analysis suggests a choppy market with potential for further consolidation or a minor dip before an upward movement. A sustainable move above the immediate resistance of 22,300 levels could lead to a higher target of 22,600 levels in the near term.
Analysts predict potential support for Nifty 50 at the 22,000 level, with resistance at 22,300. The Bank Nifty index closed at 47,687, forming a bearish candlestick pattern and encountering resistance at the 48,000 level.
Overall, the market sentiment remains cautious, with key support levels for Nifty expected around 22,000 and 21,830, and resistance between 22,300 and 22,370 levels in the next session.
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1. Where was the Gift Nifty trading?
– A. 22,000 level
– B. 22,200 level
– C. 22,300 level
– D. 22,380 level
Answer: D. 22,380 level
2. What was the closing value of the Nifty 50?
– A. 22,100
– B. 22,200
– C. 22,300
– D. 22,400
Answer: B. 22,200
3. Who mentioned about the Nifty 50 forming a small negative candle on the daily chart?
– A. Nagaraj Shetti
– B. Mandar Bhojane
– C. Rupak De
– D. V.L.A. Ambala
Answer: A. Nagaraj Shetti
4. What is the key support level for Nifty based on V.L.A. Ambala?
– A. 21,500
– B. 21,830
– C. 22,000
– D. 22,500
Answer: B. 21,830
5. Who stated that the Bank Nifty index experienced sideways trading during the weekly expiry day?
– A. Nagaraj Shetti
– B. Mandar Bhojane
– C. Kunal Shah
– D. Rupak De
Answer: C. Kunal Shah
What are the trends on Gift Nifty indicating for the Indian benchmark index?
The trends on Gift Nifty suggest a gap-up start for the Indian benchmark index, with the Gift Nifty trading around 22,380 level, a premium of nearly 100 points from the Nifty futures’ previous close.
How did the domestic equity indices perform on Wednesday?
On Wednesday, the domestic equity indices snapped a three-day winning run to end lower, with the benchmark Nifty 50 holding the 22,200 level.
What were the closing figures for Sensex and Nifty 50 on Wednesday?
The Sensex fell 117.58 points, or 0.16%, to close at 72,987.03, while the Nifty 50 settled 17.30 points, or 0.08%, lower at 22,200.55.
What does the small negative candle on the daily chart of Nifty 50 indicate?
The small negative candle on the daily chart of Nifty 50 with a minor upper and lower shadow suggests a choppy movement in the market at the hurdle, signaling caution for an impending reversal.
What is the short-term trend of Nifty according to Nagaraj Shetti?
Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, believes that the short-term trend of Nifty continues to be up, and further consolidation or a minor dip in the market is expected before showing further upmove.
Today's Current Affairs bring news of a slight dip in the Indian benchmark index, with the Nifty 50 closing at 22,200 levels after a three-day winning streak. The Sensex also fell by 117.58 points to close at 72,987.03. Analysts predict a choppy market movement but expect the short-term trend to remain positive, with a potential target of 22,600 levels. The Nifty 50 is expected to find support at 22,000 levels while facing resistance at 22,300 levels. On the other hand, the Bank Nifty closed at 47,687 points with a bearish candlestick pattern, indicating potential buying opportunities at 47,200 levels. Investors are advised to consult certified experts before making any investment decisions in light of these market predictions.
