- GIFT Nifty (previously known as SGX Nifty) is currently up 60 points.
- The index is expected to remain sideways to marginally positive due to reduced FII selling, predictions of above-normal monsoon, and the last leg of Q4 results.
- The immediate resistance level is likely around 22,200, while the next support level could be 21,650 if the index decisively closes below 21,800.
Keep an eye on the significant industries to monitor in today’s GIFT Nifty
- PSUs (Public Sector Undertakings): Brokerage firms remain positive on PSU stocks due to the election results and expectations of political stability and policy continuity.
- Railways and Infrastructure: These sectors are also expected to perform well, given the government’s focus on existing policies.
- Defense Stocks: With the BJP-led alliance securing a clear mandate, defense stocks may benefit from increased government spending.
- Auto Sector: Keep an eye on auto stocks as they could see movement based on market sentiment and economic indicators.
- Real Estate: Real estate counters might be influenced by the overall market trend and investor sentiment.
- Consumption-Driven Stocks: Analysts believe that stocks related to water infrastructure could benefit in the long run.
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