Indian Stock Market Outlook for April 29: Sensex and Nifty 50 Predictions
Nifty 50, Sensex prediction today: Check how Indian stock market is expected to trade on 29 April
Mint
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The Indian stock market is expected to open higher on April 29, following mixed global cues. The Nifty 50 is projected to trade within a range of 23,800 to 24,200, while the Sensex may find support around 76,300 to 76,400. Analysts suggest cautious trading amid ongoing geopolitical uncertainties.
- 01Sensex closed at 76,886.91, down 416.72 points on April 28.
- 02Nifty 50 settled at 23,995.70, with immediate support at 23,800.
- 03Resistance for Nifty 50 is noted at 24,200, indicating potential bullish action.
- 04Bank Nifty fell by 863.95 points to close at 55,400.35, with support in the 54,900 - 54,800 range.
- 05Volatility is expected to persist due to geopolitical uncertainties.
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The Indian stock market is anticipated to open positively on April 29, buoyed by mixed global cues. On April 28, the Sensex declined by 416.72 points, closing at 76,886.91, while the Nifty 50 fell by 97.00 points to 23,995.70. Analysts suggest that the Nifty 50 is currently in a consolidation phase, with immediate support at 23,800 and resistance at 24,200. Hitesh Tailor, a Technical Research Analyst at Choice Equity Broking, noted that the Sensex is experiencing indecisiveness, with key support levels between 76,300 and 76,400. The Bank Nifty also faced a significant drop, closing at 55,400.35, with immediate support identified in the 54,900 - 54,800 range. Analysts predict that volatility will continue due to ongoing geopolitical uncertainties, impacting trading strategies in the short term.
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The fluctuations in the stock market can influence investor sentiment and trading strategies, potentially affecting individual investment decisions.
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