Indian equity indices ended flat on April 29 amid a volatile and range-bound trading session, reflecting investor caution and lack of fresh domestic or global triggers.
🔹 Headline Indices Performance
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Sensex closed up 70.01 points (0.09%) at 80,288.38
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Nifty 50 closed up 7.45 points (0.03%) at 24,335.95
After an initial uptick, both indices traded in a narrow range, failing to sustain early gains due to intraday profit booking and consolidation across sectors.
🔹 Technical Overview
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A small red candle with minor upper shadow formed on the daily Nifty chart, signaling a failed breakout near the 24,350–24,400 resistance zone.
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Key Support: 24,150 (Nifty) / 80,000 (Sensex)
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Key Resistance: 24,450 (Nifty) / 80,500 (Sensex)
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A decisive breakout above 24,450 could lead to an upmove toward 24,600–24,850.
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Structure remains bullish with higher highs and higher lows; consolidation seen as healthy.
🔹 Sectoral Performance
| Sector | Movement |
|---|---|
| Defense | ▲ +5% |
| Capital Goods | ▲ +1% |
| Consumer Durables | ▲ +0.5% |
| IT | ▲ +0.5% |
| Oil & Gas | ▲ +0.5% |
| Pharma | ▼ -1% |
| Metal | ▼ -0.5% |
| Power | ▼ -0.5% |
| Telecom | ▼ -0.5% |
🔹 Broader Market Action
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BSE Midcap and Smallcap indices: Ended flat
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Advances/Declines: 1,766 stocks advanced, 2,012 declined, and 125 remained unchanged
🔹 Top Nifty Gainers
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Bharat Electronics
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Tech Mahindra
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Reliance Industries
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Eicher Motors
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Trent
🔹 Top Nifty Losers
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Sun Pharma
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ONGC
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Coal India
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UltraTech Cement
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Dr. Reddy’s Labs
🔹 Rupee & Global Sentiment
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The Indian Rupee erased early gains amid geopolitical tensions and a stronger dollar index.
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USDINR outlook:
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Support: 84.94
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Resistance: 85.70
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Market cautious due to mixed Q4 earnings, border tensions, and holiday-shortened week.
🔹 Market Outlook
The index remains in a consolidation phase with a positive bias, aided by sectoral rotation and FII inflows. A breakout above resistance levels could resume the rally. Traders are advised to maintain a "buy on dips" strategy, with a focus on stocks showing relative strength.
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