GIFT Nifty is trading around 25,175–25,206, indicating a gap-up of 180–210 points over Nifty’s previous close of 24,971.90.
This suggests bullish momentum at the open, driven by global relief and improved liquidity sentiment.
? Global Market Sentiment
- Wall Street closed higher as easing geopolitical tensions—particularly a ceasefire announcement between Israel and Iran—boosted risk appetite.
- Asian markets followed suit, with major indices like the Nikkei and Hang Seng trading in the green.
- Crude oil prices dropped sharply, reducing inflationary concerns and supporting equity sentiment.
- The U.S. dollar weakened, while Treasury yields dipped, reflecting expectations of a potential Fed rate cut as early as July.
Technical
- Nifty formed a small green candle on the daily chart, but remains within a consolidation range of 24,500–25,200.
- RSI is neutral around 55, and MACD remains in negative territory, signaling a lack of strong follow-through.
- Support levels: 24,850 and 24,720
- Resistance levels: 25,080 and 25,210
Key Takeaways
- Short-term bias: Slightly bullish, but still range-bound unless Nifty decisively breaks above 25,225.
- Watch for volatility near 25,000–25,200 due to high open interest and option activity.
- Bank Nifty is also showing consolidation, with a positive bias above 55,400