Indian markets set for cautious bullish start
pre-market1 source ↓written by the desknot a recommendation
- in Nifty
- 1.2% rise
- in Nifty
- 26,205
- potential resistance
- 26,280
- targets
- 26,500-26,800
Indian markets are poised for a cautious start with a bullish bias, following a 1.2% rise in Nifty to 26,205. This rebound comes as the index nears its record high, with potential resistance at 26,280. Investor sentiment is buoyed by expectations of rate cuts from the RBI and Fed, alongside optimism for Q3 earnings.
• Nifty's bullish-engulfing candle indicates further upside potential.
• If it surpasses 26,280, targets of 26,500-26,800 could be in sight.
Immediate market implications suggest a focus on banking and financial sectors as investor confidence grows.
Not investment advice. For informational purposes only.