Nifty 50 Today: Range-Bound Moves Expected Amid Profit Booking and Global Cues



Nifty 50 likely to trade range-bound today after strong upside. Profit booking, weak US futures, PCR trends, and US CPI data in focus. Read full technical outlook.

Market Outlook: Nifty 50 May Remain Range-Bound Amid Mixed Signals

After a powerful rally in the previous session, the Nifty 50 is showing signs of consolidation. The index opened flat and is expected to remain range-bound throughout the day as traders engage in profit booking following the strong upside move yesterday.

Key Factors Driving Today’s Sentiment:

  1. Profit Booking After Rally:
    Wednesday’s robust gains have triggered some selling at higher levels. Investors are locking in profits ahead of key economic data releases, which could keep Nifty in check for now.

  2. Put-Call Ratio (PCR):
    The current PCR stands around 0.95, indicating a balanced positioning with a slightly bearish bias. A PCR below 1 generally reflects increasing hedges against downside risk, supporting the view of a capped upside.

  3. Technical Outlook:

    • Resistance: 22,500–22,550
    • Support: 22,250–22,150
      Indicators like RSI are approaching overbought levels, hinting at a possible pause or retracement before the next leg up. The 50-DMA continues to act as a strong support zone.

  4. Awaiting US CPI Data:
    Global investors are keenly awaiting the US Consumer Price Index (CPI) data, scheduled later today. A surprise in inflation figures could shift Fed rate expectations, directly influencing FII flows into Indian markets.

  5. Sluggish US Futures:
    Early indications from the US futures market show a sluggish tone, reflecting global caution ahead of CPI. This has led to a tepid start in Asian markets, including India.

Conclusion:
With a mix of domestic technical resistance and global caution, the Nifty is likely to stay in a consolidation phase today. Traders should keep an eye on the US inflation data and PCR trend for directional cues. Intraday moves may remain range-bound, with 22,150–22,500 acting as the broader band for the day.

Disclaimer: This is not investment advice. All stock market investments involve risk. Please consult a licensed financial advisor before making any investment decisions.


Welcome to The Financial and Tech Literacy! I’m Awdhesh Kumar, a finance and tech enthusiast with 20+ years of experience in accounts, taxation, and the stock market. This blog simplifies finance and digital topics for all—students, professionals, retirees, and new investors. Learn about stock market strategies, personal finance, mutual funds, tech tools, digital banking, and government schemes. All content is original, practical, and based on real experience—no paid promotions or clickbait. We refer to trusted sources like SEBI, RBI, NSE, and Economic Times. Stay updated, make informed decisions, and grow financially with us. For contact: awdheshdube65@gmail.com.

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