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For the Nifty, sustaining above 25,000 will be a positive, as that could open up the potential for further upside. However, the bulls would want to see any dip down to halt at 24,800 - 24,750 levels, which analysts had earlier projected to be a congestion zone before the breakout past 25,000.
Sensex Today | Stock Market Live Updates: The new Samvat kickstarted on Sunday with the Muhurat trading session and today will be the weekly expiry of the Nifty contracts, along with the first full trading session of Samvat 2083. The Nifty is coming on the back of a sharp rally in the last seven sessions, excluding Sunday's, which has seen the index move from the lows of 22,500 to levels of 25,000-plus. As many as 14 Nifty 50 constituents gained over 10% last week and analysts are bracing for some consolidation after the strong upmove.
For the Nifty, sustaining above 25,000 will be a positive, as that could open up the potential for further upside. However, the bulls would want to see any dip down to halt at 24,800 - 24,750 levels, which analysts had earlier projected to be a congestion zone before the breakout past 25,000.
The Nifty Bank, after the recent rally, is now only 3,000 points away from its record high levels. HDFC Bank performing last week is a big positive and the bulls would hope that this outperformance sustains. The 58,000 - 59,000 range for the Nifty Bank is a broad one.
There is a possibility of muted participation today considering the long Diwali weekend, and Tuesday being a market holiday. Most of the result reactions played out during the Muhurat trading session itself, but do keep an eye on index heavyweights like RIL and HDFC Bank, and whether Sunday's outperformers like Finolex, RR Kabel, Divi's Labs, and others see follow-up buying.
Watch this space for all the Live stock market updates.
HomeMarket NewsSensex Today | Stock Market Live Updates: Nifty falls below 25,000; Hindalco, HCLTech down 2% each
