Nifty Outlook: The Indian stock market closed with a mixed trend on Monday. However, after the initial fall, a strong recovery was seen. Nifty remained above 25,200 due to positive global cues. The day started off lower with range-bound trading most of the time.
Nifty touched an intraday high of 25,220 but fell by over 100 points in the last hour especially after 2:15 pm due to profit booking. Despite this, Nifty closed at 25,227 with a gain of 58 points.
Now let us understand from the experts how the movement of Nifty will be on Tuesday 14th October and which levels will be important. But, before that, let us know what special happened in Monday’s trading session.
Sectoral and index performance
Nifty Bank and Midcap indices also recovered and closed in the green. Auto sector shares were mostly positive, driven by strong vehicle registration data.
Bajaj Auto was the top gainer, led by rising sales of electric two-wheelers in October. After this, TVS Motor and Ather Energy showed strength at second and third position.
Broder market trend
Broader market indexes performed more stable than the benchmarks. Nifty Midcap 100 gained 0.11%, while Smallcap 100 fell only 0.17%. Both outperformed Nifty’s 0.23% decline.
Expert opinion on Nifty
Siddharth Khemka of Motilal Oswal says the market may remain range-bound in the short term. Because investors are keeping an eye on Q2 results and news related to global tariffs. Institutional investment and domestic fundamentals provide some support, but volatility may persist due to trade tensions.
According to Nagaraj Shetty of HDFC Securities, the short-term trend of Nifty is a bit choppy, but the medium-term trend is positive. If there is further weakness from here, support may be found at 25,000 levels and recovery from lower levels is possible thereafter.
Strong support at 25,200
Nilesh Jain of Centrum Broking says that the overall trend will remain bullish as long as the index trades above 25,050. A gradual rise to 25,400 is possible in the near future.
Nilesh Jain further said, ‘If there is a decisive break above 25,300, short covering may be triggered and the market may go further higher. At present, the base is showing strong support at 25,200 levels. “Overall the data is positive and a sustained move above 25,300 will confirm a follow-up rally in the index.”
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