▼ Pre-Market Signal · 8:30 AM IST. GIFT Nifty at 24,044 — Nifty 50 may GAP DOWN ~132.15 pts from prev close 24,176.15
The GIFT Nifty LTP of 24,044 compared to the Nifty 50 previous close of 24,176.15 results in a projected gap down of 132.15 points. This suggests that the domestic market may open with immediate bearish pressure at the 24,000 psychological handle.
Table of Contents
Domestic Market Snapshot
| Index | LTP | Prev Close | Change | Change% |
|---|---|---|---|---|
| GIFT Nifty | 24,044 | 24,259.5 | -215.5 | -0.89% |
| Nifty 50 | 24,176.15 | 24,176.15 | +0 | +0% |
| Bank Nifty | 55,310.55 | 55,310.55 | +0 | +0% |
| India VIX | 16.84 | 16.84 | +0 | +0% |
The India VIX remains steady at 16.84, indicating that volatility expectations have not shifted from the previous session’s close. However, the 0.89% drop in GIFT Nifty futures suggests a shift in near-term sentiment.
Global Cues
| Index | Price | Open | Change (vs Close) | Change% | Intraday |
|---|---|---|---|---|---|
| Dow Jones | 49,609.16 | 49,581.09 | +12.16 | +0.02% | +28.07 |
| S&P 500 | 7,398.93 | 7,362.97 | +61.82 | +0.84% | +35.96 |
| Nasdaq | 26,247.08 | 25,958.12 | +440.88 | +1.71% | +288.96 |
| Nikkei 225 | 62,486.84 | 63,203.44 | -226.81 | -0.36% | -716.6 |
| Hang Seng | 26,229.26 | 26,310.87 | -164.45 | -0.62% | -81.61 |
| KOSPI | 7,809.17 | 7,775.31 | +311.17 | +4.15% | +33.86 |
| Brent Crude | 105.24 | 104 | +3.95 | +3.9% | +1.24 |
| USD/INR | 94.37 | 94.37 | -0.1 | -0.1% | +-0 |
While the Nasdaq rallied by 440.88 points (+1.71%), Asian markets appear more cautious with the Nikkei 225 down 226.81 points. The sharp rise in Brent Crude to 105.24 (+3.9%) may act as a headwind for the domestic equity market today.
Key Levels to Watch
| Level | Value |
|---|---|
| Pivot Point (PP) | 24,172.83 |
| Resistance 1 (R1) | 24,303.67 |
| Resistance 2 (R2) | 24,347.83 |
| Support 1 (S1) | 24,128.67 |
| Support 2 (S2) | 23,997.83 |
| Support 3 (S3) | 23,953.67 |
The GIFT Nifty LTP of 24,044 is currently trading below the S1 support level of 24,128.67. This positioning indicates that the next major technical cluster to watch is S2 at 23,997.83.
Technical Outlook
The GIFT Nifty recorded a session high of 24,217 and a low of 24,042, creating a spread of 175 points. The current price of 24,044 is hovering just 2 points above the session low, which reflects weak intraday momentum.
Trading significantly below the pivot point of 24,172.83 suggests a bearish sentiment for the initial hours of trade. If the price fails to reclaim the 24,100 zone, the 23,953.67 (S3) level may come into focus.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Readers are advised to conduct their own research before making any investment decisions.
