Market Watch : Asia up, but Israel-Iran report rings caution

2025-05-21 09:09:19 am | Source: Geojit Financial Services Ltd

Market Watch : Asia up, but Israel-Iran report rings caution - Geojit Financial Services Ltd

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Nifty Outlook

With almost 50% of the Nifty 500 constituents closing at the lowest point of the day, yesterday’s down move does signal a trend reversal, also suggested by the slippage past 24870, our downside marker. However, Nifty is now in the vicinity of 10 day SMA, which has steadfastly supported the trend on most days, since upside crossover a month back. Moreover, 76% of the Nifty 500 stocks are trading above this key SMA suggesting that there is a fair window for a bounce back. Alternatively, slippage past 24700 will signal continuation of the downmove aiming 24280-24060.

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Market Watch : Asia up, but Israel-Iran report rings caution - Geojit Financial Services Ltd

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