The Nifty 50 index has shown signs of recovery, closing above the 25,000 mark after a six-day correction, indicating potential for a short-term pullback.
• Experts suggest that the Nifty may face resistance at the 25,200-25,300 range, while key support levels are identified at 24,800 and 24,750.
• The Bank Nifty has also reversed its downward trend, closing above 51,000, with potential upward movement towards 51,500 if it sustains above this level.
Benchmark indices are expected to gain due to positive global cues, with investors focusing on the RBI monetary policy decision.
• The MPC is anticipated to keep the policy repo rate unchanged, contributing to a cautiously optimistic market sentiment.
• The onset of the Q2FY25 earnings season is also a key factor that could influence market volatility.
The Reserve Bank of India is expected to maintain the repo rate at 6.5% during its monetary policy meeting, marking the tenth consecutive hold, as it balances inflation control with economic growth support.
• Market participants are closely monitoring the RBI’s forward guidance, which will be crucial for determining future market direction, particularly regarding inflation trends and liquidity management.
• Any unexpected policy changes, such as a surprise rate cut, could lead to significant market volatility and impact the Nifty’s trading levels, with potential resistance at 25,080 and support at 24,920.
Cummins India Ltd. shares rose by 2.83% during Tuesday’s trading session, reaching an intraday high of Rs 3694.75.
• The stock has shown significant volatility, with a 52-week high of Rs 4169.5 and a low of Rs 1590.3, indicating strong market interest.
• The company’s latest quarterly report showed a slight increase in consolidated sales and a net profit of Rs 462.61 crore, reflecting stable financial performance.
