Stock Market Today: Sensex, Nifty 50 to Open Cautiously Amid Global Cues; Key Levels to Watch
February 11, 2025: The Indian stock market is expected to witness a cautious opening on February 11, with benchmark indices Sensex and Nifty 50 struggling amid global cues and sustained selling pressure.
The Gift Nifty trends indicate a flat-to-positive start, with trading levels hovering around 23,480, a 20-point premium from the previous Nifty futures close.
On February 10, the domestic equity market extended its losing streak for the fourth consecutive session.
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The formation of a strong bearish candle for four straight sessions signals that the index is struggling to sustain higher levels, analysts said.
The market saw profit booking at higher levels, causing Sensex to drop significantly.
Nifty 50’s price action signals a potential pause in the rally, requiring further confirmation for a sustainable breakout.
If Nifty falls below 23,220, it could break its bullish higher tops and bottoms formation, leading to further downside pressure.
With Bank Nifty struggling below the 50- & 200-day EMAs, analysts suggest a range-bound movement unless there is a strong breakout.
Experts advise traders to watch for confirmation signals before taking long positions, as market weakness persists. A recovery above key resistance levels may indicate bullish momentum, while further downside below crucial supports may deepen selling pressure.
Stock Market, Sensex, Nifty 50, Bank Nifty, Stock Market Analysis, Market Trends, NSE, BSE, Indian Economy, Nifty Predictions
This post was published on February 11, 2025 8:10 am
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