GIFT Nifty signals firm open for Nifty, Sensex; key levels to track on September 8
Indian equity markets are expected to open higher on September 8, as GIFT Nifty futures indicate a positive start for the Nifty and Sensex. Strong global cues, including gains in US and Asian markets, have boosted investor sentiment. Analysts suggest that key support and resistance levels will guide intraday trading momentum. Domestic factors such as foreign institutional investor (FII) activity, rupee performance, and crude oil price trends will also play a crucial role in shaping market direction. Traders are advised to watch heavyweight stocks in banking, IT, and energy sectors, as they are likely to drive index movement. Technical charts highlight important resistance near recent highs, while support zones could prevent deeper corrections. Market experts recommend a cautious yet optimistic approach, with focus on risk management. Broader market participation may remain strong, supported by favorable global trends and steady domestic cues, offering opportunities for both short-term and positional traders.
The Key points
- GIFT Nifty signals a firm opening for Indian equities.
- US and Asian market gains improve sentiment.
- Nifty resistance seen around recent swing highs.
- Key support levels could cushion market downside.
- Banking and IT stocks may lead index movement.
- Crude oil prices remain crucial for market direction.
- FII inflows continue to influence short-term trends.
- Rupee performance against the dollar to be tracked.
- Broader market expected to maintain positive momentum.
- Analysts suggest cautious optimism with strict stop-loss levels.
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