Nifty 50 Surges 0.2% Pre-Open: Bulls Eye Key Resistance Levels Today

Image Source : Moneycontrol

The Nifty 50 index started Friday’s pre-open session with a 0.2% gain, reflecting cautious optimism amid easing global trade tensions and mixed domestic cues. The index hovers around 25,320, supported by improved institutional flows, while traders watch key support at 25,150 and resistance at 25,400 for market direction.

Indian equity markets opened on a positive note on October 14, led by the Nifty 50’s 0.2% gain in pre-open trade. The cautious optimism follows a subtle pullback seen the previous day amid global trade concerns and sector-specific sell-offs. However, multiple indicators suggest the broader bullish trend remains intact.

Notable Updates

Pre-Open Movement: Nifty 50 was up nearly 0.2% in early trading, hovering near 25,320 levels as market participants enter the session with cautious confidence.

Support and Resistance Levels: Key support is observed near the 25,150-25,200 zone with the 25,000 mark acting as a critical long-term support. Resistance zones are identified at 25,400-25,500, with a breakout signaling possible rallies towards June highs near 25,670.

Sectoral Performance: Banking and financial stocks continue to show relative strength, with the Bank Nifty nurturing gains and approaching resistance at 57,000. Conversely, IT and FMCG sectors faced profit-booking pressures.

Volatility Watch: India VIX remained elevated, nearing 11, reflecting cautious market sentiment bolstered by geopolitical progress and easing US-China tensions.

Foreign and Domestic Flows: Foreign portfolio investors turned net sellers recently, offloading shares worth Rs 240 crore, while domestic institutional investors maintained their buying spree with inflows of Rs 2,333 crore.

Global Cues: Asian markets were mixed, while US futures showed modest gains, contributing to a stable yet cautious outlook for Indian equities at the open.

Major Takeaways

Nifty 50’s pre-open gains suggest recovery sentiment post recent correction.

Support and resistance zones provide key levels for intraday and short-term trading.

Financial stocks lead market strength, balancing weakness in technology and consumer sectors.

Elevated volatility underlines persistent caution amid geopolitical and economic uncertainties.

Active institutional flows continue to shape market momentum.

Sources: Moneycontrol, NDTV Profit, CNBC TV18, National Stock Exchange.