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Market News:

• Tata Motors Ltd. has partnered with Welspun Renewable Energy Pvt. Ltd. to develop an 86 MW windsolar hybrid project, which will supply renewable power.

• IKIO Green Solutions reported a 53% year-on-year increase in international business revenue to Rs 110.1 crore in FY26. The company also strengthened its portfolio by acquiring an 88% stake in Gravus Tech.

• Adani Enterprises upsized its QIP to Rs 15,000 crore from the base issue size of 10,000 crore after attracting strong investor demand, with bids worth around Rs 38,000 crore.

The index opened on a gap-up note and traded within a narrow range during the first half of the session. However, profit booking emerged in the latter half following the sharp two-day rally, leading to a subdued close. On the sectoral front, Realty and Healthcare emerged as the top gainers, while PSU Banks and the Energy sector underperformed during the session.

Levels to watch:

The Nifty has its crucial resistance 24400(Pivot Level) and 24500(Key Resistance).

While support on the downside is placed at 24150 (Pivot Level) and 24070 (Key Support).

What should short term traders expect?

The Index can long above 24300 for the potential target of 24400 the stop loss of 24230 level.

Technical Data Points

NIFTY SPOT: 24271 (+0.40%)

TRADING ZONE:

Resistance: 24400(Pivot Level) and 24500(Key Resistance)

Support: 24150 (Pivot Level) and 24070 (Key Support).

STRATEGY: Bullish till above 24070 (Key Support).

BANK NIFTY SPOT: 57973 (-0.10%)

TRADING ZONE:

Resistance: 58300 (Pivot Level) and 58700 (Key Resistance)

Support: 57500 (Pivot Level) and 57000 (Key Support).

STRATEGY: Bullish till above 57000 (Key Support).

SEBI Registration number is INH000000081.

Please refer disclaimer at https://geplcapital.com/term-disclaimerg