NewKerala.com

Sensex, Nifty Outlook Positive Despite Iran-US Tensions: Analysts

Indian equity benchmarks Sensex and Nifty ended lower on Friday due to rising geopolitical tensions between Iran and the US. Despite the decline, market analysts believe the broader trend for both indices remains positive. Key support levels for the Nifty are seen at 24,000 and 23,800, while resistance is at 24,500 and 24,600. Traders are advised to maintain disciplined risk management strategies given the ongoing volatility.

Key Points: Sensex, Nifty Positive Trend Amid Iran-US Tensions

  • Sensex, Nifty end lower on Iran-US tensions
  • Broader trend remains positive, analysts say
  • Nifty support at 24,000, resistance at 24,500
  • Traders advised disciplined risk management amid volatility
2 min read

Sensex, Nifty outlook remains positive despite Iran-US tensions: Analysts

Indian benchmarks Sensex, Nifty end lower on Iran-US tensions but analysts say outlook remains positive. Key support and resistance levels for traders.

"On the upside, 56,400 acts as immediate resistance, while 56,800 stands as the next key supply zone - Market Analyst"

Mumbai, May 10

Indian equity benchmarks ended lower on Friday amid rising geopolitical tensions after reported clashes between Iran and the US near the Strait of Hormuz dampened investor sentiment.

Despite the weakness, market experts believe the broader trend for both the Sensex and Nifty remains positive, although volatility could persist in the near term.

The Nifty declined 0.55 per cent to settle at 24,193, while the Sensex fell 0.67 per cent to close at 77,321.

However, both benchmark indices managed to end the week with gains of more than 0.70 per cent despite sharp intra-day swings.

In the broader market, the Nifty Smallcap 100 rose 0.22 per cent, while the Nifty Midcap 100 slipped 0.15 per cent.

According to market experts, the Sensex continues to show strength from a technical perspective despite Friday's correction.

"In the near term, immediate downside support is placed in the 54,600-54,200 zone in case selling pressure re-emerges," an analyst stated.

"On the upside, 56,400 acts as immediate resistance, while 56,800 stands as the next key supply zone," the analyst added.

Traders are advised to remain cautious and follow disciplined risk management while closely tracking key levels for the next directional move, market experts added.

On the Nifty, market experts said the index ended the week at 24,176.15, gaining 178.60 points or 0.74 per cent on a weekly basis.

"On the upside, resistance levels are placed at 24,500 and 24,600. On the downside, support is seen at 24,000 and 23,800. A breakdown below 23,800 could result in increased selling pressure," an analyst stated.

"Given the current market structure, traders are advised to remain disciplined and adhere to strict stop-loss strategies amid ongoing volatility," the analyst added.

- IANS

Share this article:

Reader Comments

R
Rohit P
Iran-US tensions are just noise for Indian markets. Our domestic fundamentals are sound, with strong FII inflows and good monsoon prospects. A minor correction is healthy for the bull run. 🚀
N
Nisha Z
I wish analysts would stop being so vague—"key levels," "resistance," "support"—it's all jargon. Just tell us whether to buy or sell! 😂 But seriously, those stop-loss strategies are a must in this volatility.
P
Priya S
The smallcap index rising while midcap slips—this shows retail investors are still bullish. But we need to be careful, especially if global tensions escalate. India's growth story is intact, but near-term caution is justified.
J
James A
As a foreign investor, I see India as a relatively safe haven in Asia right now. These tensions are temporary. The Nifty's weekly gain of 0.74% despite the Friday dip says it all—buy on dips.
S
Siddharth J
The support at 54,200 for Sensex is key—if it breaks, we could see a deeper correction. But with the government's capex push and strong earnings season, I'm still positive. Just don't FOMO into trades. 😅
S
Sarah B
These geopolitical j

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Leave a Comment

Minimum 50 characters 0/50