Sensex, Nifty 50 prediction today: Stock market outlook for Tuesday, 29 Sept
While 72, 900-73, 000 is projected to act as the key resistance zone, on the Sensex outlook, Sachin Gupta, VP - Technical Research at Choice Equity Broking Private Limited, remarked, "The immediate backing is placed at 72, 300-72, 500. The…
What happened
While 72, 900-73, 000 is projected to act as the key resistance zone, on the Sensex outlook, Sachin Gupta, VP – Technical Research at Choice Equity Broking Private Limited, remarked, "The immediate backing is placed at 72, 300-72, 500. The broader trading range stands at 72, 300-73, 000, with the overall bias remaining sideways to bearish. A sustained recovery above 73, 000 would be required to provide some stability to the short-term structure. Overall, the index remains sideways to bearish, and traders should remain cautious until a solid rebound is established. For context, a sustained move above 72, 900-73, 000 could provide some relief, whereas a break below 72, 300 may extend the downside momentum."
The bottom line
Taken together, the developments around sensex, Nifty 50 prediction today: Stock market outlook for Tuesday, 29 Sept point to a situation that is still moving, and the coming days should bring more clarity.
