What are the indications for the market today? Indications received from GIFT Nifty

News Topical,Digital Desk : The markets closed in the red in the last trading session of last week as well. Thus, the market started the May F&O series with a decline. However, on a weekly basis, the market closed in the green for the second consecutive week with a gain of about 1%. 30 out of 50 Nifty stocks closed in the green on a weekly basis. Nifty Bank also closed in the positive zone.

The market is taking a cautious view due to the increasing tension between India and Pakistan. The Nifty index has slipped below its 200-DMA, indicating a possible softening in the index. Due to the uncertainty created after the terrorist attacks in Kashmir, investor sentiment is showing weakness.

Today, on April 28, the most important reaction of the market will have to be seen in the results of many companies. Maruti Suzuki, Reliance Industries, RBL Bank, DCB Bank and IGL, along with many other companies, released their March quarter results after the market closed on Friday. Apart from this, the results of many companies are going to be released today. Ather Energy IPO will also open for subscription from Monday, April 28. There will be a chance to subscribe to this IPO of Rs 3,981 crore till April 30. 

Q4 results of which companies today? Results of UltraTech Cement will be released from Nifty today. Results of Adani Green, Adani Total Gas, IRFC, KPIT Tech, Oberoi Realty, PNB Housing and TVS Motor will be released from the futures market. Apart from this, results of AWL Agri business, Central Bank, Go Digit, Hatsun Agro, IDBI Bank, Sanghi Industries, Shree Digvijay Cement, TVS Holdings and UCO Bank will be released from the cash market. 

Indications from global markets US markets closed with gains on Friday. The Dow Jones index closed flat with a slight gain. However, the Nasdaq rose by one and a quarter percent and the S&P500 index rose by one and a quarter percent. Google's parent company Alphabet saw a rise of 1.5% after better-than-expected results in the January-March quarter. Tesla, Nvidia and Meta Platforms also closed with great gains. 

FIIs - DIIs figures Meanwhile, foreign investors and domestic institutional investors remained net buyers in the cash market on Friday. Nifty has gained more than 2,600 points from the recent swing low of 21,743. However, the position of the index is still bullish. Nifty is above 20, 50, 100 and 200 DMA. Support for the index will be at 23,500 after slipping below Friday's low of 23,847. On the upside, resistance is at 24,150 and 24,365 Nifty. 

Rupak Dey, LKP Securities - Weakness is seen in investor sentiment. Nifty has now come below its 200-DMA, which shows weakness. Investors remain cautious due to rising tensions between India and Pakistan. He said that on the downside, support for Nifty is around 23,800 and 23,515. 

Outlook for Nifty Bank today Om Mehra, SAMCO Securities - Support for Nifty Bank is at 54,200 level. 

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