The Indian equity markets opened on a positive note on Tuesday, with the Sensex and Nifty 50 gaining ground amid a positive global environment and gains in realty and IT stocks. Fueled by a decline in oil prices, the markets extended their Monday gains, signaling a sustained underlying bullishness despite external macroeconomic factors.
The Indian stock market is poised to open higher on Tuesday following favorable global cues. The benchmark Nifty 50 index is projected to start flat, according to trends on the Gift Nifty. On Monday, the domestic equity indices ended significantly higher for the second consecutive session, with the Nifty closing above the 22,300 level. Nifty 50 formed a doji pattern on the daily chart, indicating a pause in the uptrend. Key levels to watch for Nifty 50 and Bank Nifty include support at 22,000 and resistance at 22,500. Analysts expect continued bullish sentiment in the market, with potential upside targets of 22,600-22,700 for Nifty 50 and 48,000 for Bank Nifty.
