Sensex Today | Stock Market LIVE Updates: Nifty slips from opening highs, drops below 23,300

Sensex Today | Stock Market LIVE Updates: The markets are looking to sustain the momentum from the gains of the past 2 sessions. The Nifty is fighting for the first weekly gain in 5 weeks and snapping the losing streak. The 50-stock index is still 100 points away from breaking out of the decline cycle.

The Nifty has continued to face supply at the 23,280 - 23,300-23,350 zone. It needs to close above the 23,400 mark to prevent a sixth straight weekly loss. On the downside, there has been support emerging at the 23,200 mark, and that could comfort the bulls, though it may keep the index range-bound.

The Nifty Bank is on the rise, jumping 100 points. The banking index has been a laggard, and therefore, it will need to step up for the index to sustain at higher levels. The 56,000 level on the downside remains key, along with the 55,780 zone, while sustaining above 56,500 on the upside will be a big positive.

Keep an eye on Tata Group stocks, particularly those that react the most to any Tata Sons updates, like Tata Chemicals, Tata Motors PV and others. IT stocks, Bharat Forge, Fintech names should also be eyed.

Watch this space for all the LIVE stock market updates.

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