Market Savera - 15/04/2024

Stock Market Updates

15-04-2024 • 2 mins

While the Nifty remains in an intermediate uptrend, sell off seen on Friday's, as well as anticipated fall on today's opening trade will break the nearby supports thereby leading to a short term reversal. Nifty could now head towards the next major supports of 22303-22142 in the coming sessions. The 22303 level corresponds to the previous swing low and the 22142 level corresponds to the 50 day SMA. As the intermediate uptrend is intact, we expect any correction to halt at lower levels and the intermediate uptrend to resume. The the Israel-Iran conflict, domestic and global economic macroeconomic data, crude oil prices, January-March quarter results for Q4FY24, general elections 2024,and global cues are likely to keep investors on their toes and will guide market direction this week. Indian markets to open lower, in line with lower asian markets, sharply lower US markets on 12th April and in response to hightened geo-political uncertaininties.