The Indian equity markets on Monday opened in the green in early trade with positive cues from the upcoming Putin-Araghchi talks in St Petersburg.
The BSE Sensex opened 400 points higher, while the broader Nifty 50 climbed over 138 points or 0.56 per cent.
At 9:30 am, the Nifty was trading at 24,031.00, while the BSE Sensex stood at 77,087.12.
During the previous session, benchmark indices faced selling pressure and failed to sustain higher levels due to continued resistance at key zones.
The price action indicates that the market is witnessing a short-term corrective phase, with recovery attempts likely to face hurdles unless key resistance levels are decisively breached.
The Nifty 50 at the moment is struggling to balance between global trigger points and domestic market cues, as immediate support is placed at around 23,900–23,800 levels.
On the upside, resistance is placed at 24,200, with a stronger hurdle near 24,500–24,600.
While the Bank Nifty is trading positive, the sector is only consolidating its position after recent outperformance.
Immediate support for the Bank Nifty has been placed at around 55,700 while stronger support lies near 55,600. On the upside, resistance is placed at 56,500–56,600 levels.
Foreign institutional investors mounted additional pressure on Friday with aggressive selling, offloading equities worth ₹8,827 crore.
Also read: FM asks financial sector to be fully alert on cybersecurity
Follow us
