IGI Logo

Morning Market Outlook

* The market is expected to open flat today due to a muted performance in Asian markets following news that the US President plans to impose a 25% tariff on automobiles, pharmaceuticals, and semiconductors.

* The Nifty futures are showing a flat to negative trend. On the other hand, the US market gained 0.2%, closing at a record high yesterday, driven by IT stocks.

* Gold hit a record high, Brent crude surged 2% to $76 per barrel, and metal prices such as copper, aluminium, and zinc reached a 1-month high on the LME.

* Power and metal stocks are expected to perform positively due to falling coal prices, which have dropped to a 4-year low, benefiting from lower major raw material costs.

* EV component stocks could also see positive momentum, especially with the news that Tesla will soon enter the Indian market.

NIFTY (CMP : 22945) :

Nifty immediate support is at 22800 then 22725 zones while resistance at 23150 then 23250 zones. Now if it manages to cross and hold above 23000 zones then bounce could be seen towards 23150 then 23250 zones while supports are intact at 22800 then 22725 zones.

BANK NIFTY (CMP : 49087) : Bank Nifty support is at 48750 then 48500 zones while resistance at 49500 then 49750 zones. Now till it holds below 49350 zones some weakness could be seen towards 48750 then 48500 zones while on the upside hurdle is seen at 49500 then 49750 zones.

For More Research Reports : Click Here 

For More Motilal Oswal Securities Ltd Disclaimer
http://www.motilaloswal.com/MOSLdisclaimer/disclaimer.html
SEBI Registration number is INH000000412