Nifty Holds Firm Above Key Average as Global Caution Persists

Index Update: The Nifty 50 Index closed near 24,317.15, remaining above its 50-day SMA of 23,889.39, indicating that the medium-term technical structure remains stable. Recent price action reflects a gradual recovery, with the index holding above its key moving average and extending its recent gains. The 14-day RSI stands at 57.66, suggesting balanced momentum with room for further movement. Immediate support is placed near 24,100.00, followed by 23,900.00, while resistance is seen around 24,500.00 and 24,700.00. A decisive move beyond these levels could influence the next directional trend.

Macro Update: India’s macroeconomic outlook remained stable, supported by resilient domestic demand and easing inflationary pressures. However, sentiment stayed cautious amid the US Federal Reserve’s unchanged policy stance, elevated US Treasury yields and volatile crude oil prices. Investors also monitored rupee movements, global liquidity conditions and their implications for India’s monetary policy outlook.

Top Market Movers: On Thursday, Mahindra & Mahindra Limited (NSE:M&M) led the gainers with a 1.92% increase, closing at INR 3,283.70 followed by Coal India Limited (NSE:COALINDIA) up 1.74% at INR 417.20 and Eicher Motors Limited (NSE:EICHERMOT) which rose 1.72% to INR 7,912.50. On the downside followed Adani Ports and Special Economic Zone Limited (NSE:ADANIPORTS) saw the largest drop, falling 3.23% to INR 1,664.10 followed HDFC Life Insurance Company Limited (NSE:HDFCLIFE) down 2.03% to INR 545.40 and Shriram Finance Limited (NSE:SHRIRAMFIN) which dropped 3.23% to INR 1,664.10.

Commodity Update: The U.S. dollar strengthened during early Asian trading on Thursday after the Federal Reserve kept interest rates unchanged, while Chair Jerome Powell signaled that future policy decisions would remain dependent on incoming economic data. Gold rose 0.71% to USD 4,065.10 per ounce, silver gained 0.06% to USD 58.11 per ounce, and copper advanced 0.70% to USD 13,686.30 per metric ton. Brent crude oil declined 0.90% to USD 89.92 per barrel as traders booked profits following recent gains while monitoring U.S. President Donald Trump's warning of possible military action against Iran and tightening global crude supply conditions.

Our Stance: The market outlook remains cautiously positive, supported by the Nifty 50 holding above its 50-day SMA and improving momentum. Resilient domestic fundamentals provide support, while elevated US Treasury yields, crude oil volatility and global monetary uncertainty remain key risks. A sustained move above 24,500 could reinforce near-term upside momentum.

Disclaimer:

The information available on this article is provided for education and informational purposes only. It does not constitute or provide financial, investment or trading advice and should not be construed as an endorsement of any specific stock or financial strategy in any form or manner. We do not make any representations or warranties regarding the quality, reliability, or accuracy of the information provided. This website may contain links to third-party content. We are not responsible for the content or accuracy of these external sources and do not endorse or verify the information provided by third parties. We are not liable for any decisions made or actions taken based on the information provided on this website.

Copyright 2026 Krish Capital Pty. Ltd. All rights reserved. No part of this website, or its content, may be reproduced in any form without our prior consent.