Crime Today News
Nifty 50 began today’s session with a gap-down at 24,864 versus yesterday’s close of 24,925. It moderated further after opening and was trading at 24,750 by the end of the first hour of today’s trade.
The advance/decline ratio of the index is at 13/37, showing a bearish bias. Bharat Electronics and Dr Reddy’s Laboratories, up 3.6 per cent each, are the top performers so far today.
On the other hand, Infosys and Eternal (Zomato), down 2.3 per cent each, are the top losers.
Notably, even as the benchmark index is in the red, the mid- and small-cap indices are in the green.
Among the sectors, Nifty Pharma, up 1.9 per cent, and Nifty PSU Bank, up 1.8 per cent, are the top gainers. Whereas Nifty Private Bank, down 0.7 per cent, is the top loser.
Nifty 50 futures
The May futures of Nifty 50 began today’s session lower at 24,960 compared to Monday’s close of 25,044. It is currently trading at 24,830, down 0.8 per cent.
Although the contract has declined, the broader trend is bullish and there are no strong signs of a bearish reversal. So, any price dip is likely to be limited.
From the current level of 24,830, the nearest support levels are at 24,760 and 24,600. A recovery, either from 24,760 or after a correction of 24,600, can lift the contract back to 25,000. A rally past this can take Nifty futures to 25,200.
Nevertheless, given the prevailing price action, the downswing is expected to be limited to 24,760.
Trading strategy
Buy Nifty futures (May) now at 24,830 and on a dip to 24,650. Place a stop-loss at 24,580. When the contract touches 25,000, revise the stop-loss to 24,880. Book profits at 25,200.
Supports: 24,760 and 24,600
Resistances: 25,000 and 25,200
Published on May 13, 2025
This article first appeared on The Hindu Business Line
📰 Crime Today News is proudly sponsored by DRYFRUIT & CO – A Brand by eFabby Global LLC
Design & Developed by Yes Mom Hosting
