Nifty50 : How will the Market today?

One month has passed since the end of the Lok Sabha elections. It seemed as if India’s stock market was waiting for the elections to end and the results of the elections to come. As soon as the results of the Lok Sabha elections started coming, the Indian stock market kept increasing its pace.

On the day of the Lok Sabha elections, the entire Indian stock market had become a bloody game.

Within a few days of the results of the Lok Sabha elections, the Indian stock market started touching new heights. Almost all the indices including Nifty, Bank Nifty, and Sensex are in a race to touch new highs. On June 4, 2024, the day of election results, Nifty50 saw a decline of 5.93% in that single day.

But on the fourth day itself, Nifty50 broke all its resistance and achieved a new height of 23411.90. And since then Nifty50 has continuously moved towards the rise. Recently Nifty50 has achieved its highest level of 24,401 but after that Nifty50 is playing around this high.

This is a good sign who recently invested during the fall

Investors are more likely to believe that this is just the beginning. Nifty50 will achieve its best height in the year 2024. Similar is the situation with Bank Nifty. On the day of the election results, Bank Nifty had fallen by 7.95% in a single day but today it has crossed it and is consolidating there by making a new high of 53,357.70.

Both Nifty50 and Bank Nifty are almost at their highest levels. Now it remains to be seen till when both these indices consolidate around their latest highs and when they break the new resistance and make their new highs.

Indian stock market is in good condition compared to other countries.

Globally, there is a possibility of good growth in the Indian stock market. Every big investor in the world is eyeing the Indian market. In such a situation, Indian investors are very curious about the new situation of the market and want to see what will be the position of the Indian stock market in the world in the coming times.