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Indian Markets Brace for Lower Open Amid Mixed Global Signals
27 Aug
Summary
- Indian stock indices Sensex and Nifty 50 expected to open lower on August 27.
- Sensex fell 183.15 points, Nifty 50 settled 126.80 points lower previously.
- Analysts identify key support and resistance zones, indicating cautious market outlook.
Indian equity benchmarks, Sensex and Nifty 50, are projected to commence trading on a lower note on August 27, influenced by mixed global cues. The Gift Nifty also indicated a red start, trading lower than the Nifty futures' previous close.
In the prior trading session, both the Sensex and Nifty 50 concluded with losses. The Sensex dropped 183.15 points to 77,472.94, while the Nifty 50 settled 126.80 points down at 24,207.75.
Technical analysis suggests immediate support for the Sensex lies between 76,900-77,000, with resistance faced between 77,700 and 78,000. A broader medium-term recovery hinges on holding the 76,300-76,500 support zone, while a decisive move above 78,400-78,600 is needed for a fresh upmove.
The Nifty 50's immediate support is seen around 24,100-24,000, with resistance at 24,400-24,500. A break above this range could signal a sustainable upside, whereas a fall below support might trigger further weakness. The banking index faces immediate support at 57,300-57,200 and resistance at 58,100-58,200.
