Nifty 50 to Open Lower on April 29 Amid Mixed Global Cues and Earnings Pressure
The Nifty 50 is set for a cautious opening on April 29, following weak global sentiment and subdued Gift Nifty futures movement.
Key Highlights:
Nifty 50 Prediction Today: 29 April Slips Slightly as Global Markets Remain Jittery
The Nifty 50 is expected to open slightly lower on Tuesday, April 29, 2025, weighed down by mixed global signals and cautious domestic sentiment ahead of key corporate earnings releases. As per the latest update, Gift Nifty futures slipped 0.14% to 24,436.0, suggesting a soft opening for the Indian benchmark index.
Investors remain wary as Wall Street closed on a mixed note and Asian peers showed muted performance. The Indian market may see stock-specific volatility driven by earnings season even as broader sentiment remains fragile.
Global and Domestic Signals Shaping Nifty 50 Today
- Gift Nifty Futures: Down by 33.5 points, signaling mild weakness.
- Wall Street Overnight: Nasdaq and S&P 500 showed slight declines.
- Asian Markets: Nikkei, KOSPI opened flat-to-negative.
- Rupee Stability: Offering some cushion against heavy losses.
- Earnings Watch: Heavyweight companies set to release Q4 results today.
Expected Nifty 50 Opening Levels
- Opening Range Forecast: 24,390 – 24,420
- Support Zones: 24,350 / 24,300
- Resistance Zones: 24,450 / 24,500
- Market Bias: Cautious with stock-specific moves dominating
Sectors in Focus Today
- Technology:
TCS, Infosys, Wipro may open lower tracking Nasdaq’s tech pullback. - Banking and Financials:
ICICI Bank, HDFC Bank, and Axis Bank expected to show relative strength. - FMCG and Pharma:
Hindustan Unilever, Britannia, and Sun Pharma could attract defensive buying. - Metals and Energy:
Reliance Industries, Tata Steel may trade mixed amid commodity price fluctuations.
Key Drivers for Nifty 50 Movement
- Global Tech Weakness: Spillover from Nasdaq’s softness could pressure local tech stocks.
- Domestic Earnings: Corporate results will drive significant intraday volatility.
- Macro Data Watch: Fiscal deficit, core sector growth figures due this week.
- Global Economic Cues: U.S. GDP and Chinese PMI data closely tracked.
Who Will Be Affected
- Retail Investors trading frontline Nifty 50 stocks.
- FII/Institutional Participants reacting to global risk-off mood.
- Derivatives Traders positioning in weekly Nifty options contracts.
- Portfolio Managers adjusting sectoral weights based on earnings outcomes.
What This Means for Traders
Intraday traders should prepare for a range-bound session with low-to-moderate volatility at the open.
Focus should be on buying quality stocks on dips near support zones.
Sector rotation strategies in favor of banks, autos, FMCG, and defensive sectors could work well today.
What Happens Next
Market participants will keep a close eye on:
- Corporate earnings announcements through the day.
- Movement in Gift Nifty and U.S. futures during trading hours.
- Bond yields and crude oil prices influencing overall market sentiment.
- Currency trends as USD/INR stability remains critical for FII flows.
A sustained hold above 24,350 will be key for any potential intraday recovery.
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