Nifty and Bank Nifty How will be the movement on September 11, know important levels for intraday
The Indian stock market witnessed weak performance from Nifty-50 and Bank Nifty. Experts suggest that Bank Nifty might face resistance between the 51,500-51,700 range, which could trigger profit-booking around these levels.
Nifty-50 Current Scenario
On Tuesday, Nifty crossed the 25,000 and 25,100 marks but encountered resistance near 25,150, pulling it down by 90 points from the day’s high. With key U.S. economic data, like the CPI and PPI reports, expected soon, along with the Federal Reserve’s interest rate decision, markets remain cautious. These events may heavily influence the market’s future direction.
Bank Nifty Outlook
According to Sanctum Wealth’s Aditya Agarwal, Bank Nifty needs to close above 51,800 to shift the short-term outlook. If this happens, it could rise toward 52,280-52,460 levels. Support is identified around the 50,700-51,000 range, crucial for maintaining current stability.
F&O Highlights
Tuesday’s trading session saw fresh long positions in stocks like Divi’s Laboratories and Indian Hotels, with price and open interest both increasing. On the other hand, some stocks witnessed short covering, where prices rose, but open interest fell, indicating cautious optimism.
| Stock | Price Change | OI Change |
|---|---|---|
| Divi’s Laboratories | +4.57% | +34.87% |
| Atul | +0.64% | +21.18% |
| Indian Hotels | +4.34% | +11.19% |
| Coforge | +4.99% | +10.30% |
| India Mart | +2.98% | +9.90% |
Market Focus
The coming days could see further volatility due to external factors, such as economic reports and global trends. Market experts recommend investors take a stock-specific approach, stay cautious, and keep an eye on key resistance and support levels.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
