As the market gears up for January 19, the benchmark Sensex and Nifty indices are poised for a potentially flat opening. Insights from the GIFT Nifty suggest a subdued start for the broader index, with an expected gain of 7-9 points.
On January 18, the equity benchmarks experienced a third consecutive day of lower closings, despite a mid-session pullback. The selling pressure primarily affected bank and IT stocks, influenced by weak global cues. At the close, the Sensex recorded a decline of 313.90 points or 0.44%, settling at 71,186.86. Simultaneously, the Nifty was down by 109.70 points or 0.51%, reaching 21,462.30.
Support and Resistance Levels:
According to the pivot point calculator, the Nifty is likely to find immediate support at 21,332, followed by 21,272, and 21,175 levels. On the upside, potential resistance levels include 21,486, followed by 21,586, and 21,683.
Stay informed about the market dynamics as Sensex and Nifty anticipate a flat opening on January 19. Despite recent downward trends, the calculated support and resistance levels offer valuable insights for investors. Explore potential opportunities as the market unfolds, keeping an eye on key levels and developments that may influence trading decisions.
