Ahead of Market: 10 things that will decide stock market action on Tuesday
Here's how analysts read the market pulse:
Commenting on the day's action, Rupak De, Senior Technical Analyst at LKP Securities said that Nifty has broken down from a bearish flag and pole pattern, signaling the start of a correction. «From here, the index may continue to decline in the short term, moving toward lower levels. Immediate support is seen at 22,450, and a drop below this level could trigger a further correction toward 22,200 or lower. On the upside, immediate resistance is observed in the 22,670-22,700 range,» De said.
<div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-118536782»>US markets
Wall Street stocks opened higher on Monday ahead of key inflation data and earnings from artificial intelligence leader Nvidia as markets attempt a rebound from last week's losses.
Major US indices lost more than 1.5 percent on Friday amid economic worries due in part to uncertainty over President Donald Trump's tariff plans. Stocks were in positive territory early Monday, but analysts were watching to see if bargain-hunting buying continued.
Tech View
The recent decline in the benchmark index has resulted in a significant breakdown of the falling wedge pattern, Osho Krishnan, Senior Analyst, Technical & Derivatives at Angel One said, while suggesting that the breakdown indicates a notable disruption in the structural framework of the market, pointing to a dampened sentiment.
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