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: 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. 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. Technical O...