▼ Pre-Market Signal · 8:19 AM IST. GIFT Nifty at 24,275 — Nifty 50 may GAP DOWN ~51.65 pts from prev close 24,326.65
The GIFT Nifty LTP of 24,275 indicates a potential gap down for the domestic indices, as it trades 51.65 points below the Nifty 50 previous close of 24,326.65.
This negative opening spread suggests a cautious start for Indian markets, following the -0.07% decline observed in the GIFT Nifty current session.
Table of Contents
Domestic Market Snapshot
| Index | LTP | Prev Close | Change | Change% |
|---|---|---|---|---|
| GIFT Nifty | 24,275 | 24,291 | -16 | -0.07% |
| Nifty 50 | 24,326.65 | 24,326.65 | +0 | +0% |
| Bank Nifty | 56,047.4 | 56,047.4 | +0 | +0% |
| India VIX | 16.62 | 16.62 | +0 | +0% |
The India VIX remains at 16.62, suggesting that volatility has stayed flat since the previous session’s close. However, the Nifty 50 at 24,326.65 and Bank Nifty at 56,047.4 may face immediate resistance due to the weaker global setup.
Global Cues
| Index | Price | Open | Change (vs Close) | Change% | Intraday Change |
|---|---|---|---|---|---|
| Dow Jones | 49,596.97 | 50,002.39 | -313.62 | -0.63% | -405.42 |
| S&P 500 | 7,337.11 | 7,376.78 | -28.01 | -0.38% | -39.67 |
| Nasdaq | 25,806.2 | 25,881.3 | -32.75 | -0.13% | -75.11 |
| Nikkei 225 | 62,174.12 | 62,654.01 | -659.72 | -1.05% | -479.89 |
| Hang Seng | 26,299.14 | 26,359.79 | -327.14 | -1.23% | -60.65 |
| KOSPI | 7,396.63 | 7,353.94 | -93.42 | -1.25% | +42.69 |
| Brent Crude | 101.87 | 103.56 | +1.81 | +1.81% | -1.69 |
| USD/INR | 94.24 | 94.24 | +0 | +0% | +0 |
Global sentiment appears predominantly bearish as the Nikkei 225 dropped 659.72 points (-1.05%) and the Dow Jones fell by 313.62 points (-0.63%). The rise in Brent Crude to 101.87 (+1.81%) adds inflationary pressure to the domestic outlook.
Key Levels to Watch
| Level | Value |
|---|---|
| Pivot Point (PP) | 24,289.67 |
| Resistance 1 (R1) | 24,328.83 |
| Resistance 2 (R2) | 24,366.67 |
| Resistance 3 (R3) | 24,405.83 |
| Support 1 (S1) | 24,251.83 |
| Support 2 (S2) | 24,212.67 |
| Support 3 (S3) | 24,174.83 |
With GIFT Nifty currently at 24,275, the price is trading just below the Pivot Point of 24,289.67. Immediate support appears likely at the S1 level of 24,251.83.
Technical Outlook
The GIFT Nifty has traded within a 77-point range between a high of 24,327.5 and a low of 24,250.5 during the current session. The LTP of 24,275 sitting in the lower half of this range indicates bearish intraday momentum.
Given the significant drop in Asian peers like the KOSPI (-1.25%) and Hang Seng (-1.23%), the domestic sentiment appears tilted to the downside for the opening hour.
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.
