Today’s Market News :
GLOBAL CUES
* Wall Street snaps record setting spree; Nasdaq leads declines
* Chip stocks weigh on S&P 500 and Nasdaq; Nvidia sheds 4%
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* Asian markets edge lower led by Nikkei
* Investors await more stimulus measures from China to prop up real estate sector -China’s housing minister set to hold a press briefing on Thursday
* GIFT Nifty signals a soft start
Nifty 50 failed to hold the 25,000 mark, closing moderately lower on October 16 and extending losses for another session. The index has broken upward sloping support trendline but overall remained in the range of 24,900-25,200. The chart pattern indicates rangebound trade. The 25,100-25,200 zone is likely to act as a hurdle on the upside, while immediate support lies at 24,900, followed by 24,800. The Bank Nifty decisively needs to climb above 52,000 for an upward rally; until then, it may consolidate with support at 51,500, experts said.
