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Stock market expected to open lower amid global tensions between Iran and Israel

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Mumbai (Maharashtra) (India), April 15 (ANI): Stock indices Sensex and Nifty are expected to start trading lower on Monday, influenced by escalating tensions between Iran and Israel, which have impacted global markets. according to experts.

Early indications are that the Gift Nifty is pointing to a lower start, trading around 22,460, almost 140 points lower than the previous close of Nifty futures.

Last Friday, Sensex and Nifty 50 saw a significant decline, with each index seeing a decline of around 1%. Sensex closed at 74,244.90, down 793.25 points, while Nifty 50 settled at 22,519.40, down 234.40 points.

This downward trend was attributed to sales in various sectors amid weak global signals.

Technically, the Nifty 50 formed a long negative candle on the daily chart, breaking below the immediate support level of 22,650, signaling a crucial upper reversal pattern and suggesting further weakness ahead.

Additionally, on the weekly chart, a small negative candle with an upper shadow hints at a reversal trend, indicating a bearish outlook.

Varun Aggarwal, Founder and Managing Director, Profit Idea, said, “Despite the negative sentiment in the near term, market analysts are seeing support at 22,500 at the close, which could potentially prevent a significant correction. » However, sustained trading above 22,500 could push the index towards the 22,650-22,700 levels, while a fall below 22,500 could initiate a correction of 200-250 points on the downside.

In the global market scenario, Asian markets also fell on Monday, following losses in US stocks amid heightened geopolitical tensions in the Middle East.

Crude oil prices remained subdued after Iranian drone and missile attacks on Israel, while gold prices rose on safe-haven demand, reaching $2,359.92 per ounce.

Investors are advised to closely monitor geopolitical developments and their impact on global markets as trading begins today.

The Indian stock market is expected to exhibit volatility in response to events unfolding in the international arena. (ANI)

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