Nifty and Sensex poised for breakout amid FPI inflows
Nifty 50 and Sensex are showing resilience, with strong support holding at 23,800-23,600. FPIs have invested $788 million in Indian equities for two weeks, suggesting potential upward momentum for the indices.
after close1 source ↓written by the desknot a recommendation
- support held
- 23,800-23,600
Nifty 50 and Sensex have maintained strong support, bouncing back last week. The indices are expected to breach immediate resistance levels, driven by net inflows of $788 million from Foreign Portfolio Investors (FPIs) for the second consecutive week. Close monitoring of FPI activity will be crucial for future market movements.
• Nifty 50 support held at 23,800-23,600
• Nifty Bank index may also see a bullish breakout
Traders should watch for potential upward momentum in the coming weeks.
Not investment advice. For informational purposes only.