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Today's stock market: Nifty 50 trade setup for international markets; five equities to purchase or sell on Thursday, December 26, 2024

 Today's Stock Market: The Benchmark Nifty 50 Index's short-term trend remains sluggish, and there are no indications that any significant bottom reversals are developing at the lows. According to analysts, immediate resistance is situated between 23900 and 24000 levels. 


Stock Market Today: Following Monday's recovery, the benchmark Nifty'50 index closed Tuesday at 23,727.65, down 0.11%, indicating that market volatility is still there. At 78,472.87, the S&P BSE Sensex finished with comparable losses. At 51,233.00, the Bank Nifty closed 0.16% down. While metal, IT, and other sectors continued to face pressure, the FMCG and auto index saw a minor increase.

Additionally, broader indices ended flat and continued to fluctuate. Wider indexes closed close to the flatline and stayed quiet. Despite the market holiday on Wednesday, the tendency is probably going to stay cautious going forward.

 Thursday's trade setup 

There are no indications that any significant bottom reversals are emerging at the lows, and the Nifty's short-term trend is remains poor. The level of immediate resistance is between 23900 and 24000. According to Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, the next lower support is located at 23500.


According to Kunal Shah, Senior Technical and Derivative Research Analyst at Mirae Asset Sharekhan, the Bank Nifty's undertone is still bearish, and if it breaks below 51000, there may be additional selling pressure towards 50500, the index's 200dma. 

International markets to meet financial demands On Wednesday, 

the majority of domestic and international markets were closed. The Union budget and Q3 data will determine the market's course in the near future, but due to the strong dollar, high bond yields, and worries about rate cuts, caution is in the air. The Rupee's record low further prompted caution, according to Vinod Nair, Head of Research at Geojit Financial Services.



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