Indian equity indices opened Tuesday’s trading session on a muted note. The NSE Nifty 50 opened flat at 25,764. The BSE Sensex opened 23 points or 0.03% higher at 84,000.
The Bank Nifty opened 64 points or 0.11% lower at 58,037. Similarly, the small and midcap stocks opened the day on a subdued note. The Nifty Midcap rose 42 points or 0.07% to open at 60,328.
“Technically, after a correction, the market has formed an intraday reversal pattern. Additionally, on daily charts, it has formed a small bullish candle, which is largely positive. For day traders, 25,700 and 25,650 would act as key support zones. As long as the market trades above these levels, a pullback formation is likely to continue, with the index potentially moving up to 25,875. Further upside may also persist, which could lift the index to 26,000,” said Shrikant Chouhan, Head of Equity Research at Kotak Securities.
Let’s take a look at the key factors to watch out for today’s trading session
Early gainers and laggards
In early trade, among the Nifty 50, top gainers at this hour were Bharti Airtel, Shriram Finance, Titan, Cipla, and Coal India. On the flip side, the key laggards in the Nifty 50 pack included Tata Consumer Products, Power Grid Corp, Eternal (Zomato), Maruti Suzuki, and Bharat Electronics.
Major movers on Tuesday
The stocks that were the major movers in the opening trade included Bharti Airtel, Reliance Industries, Titan, Shriram Finance, and Coal India, which were the major movers in the morning trade.