04 April 2024 – The GIFT Nifty’s trends suggest that the benchmark Sensex and Nifty indexes would begin higher on April 4 with a gain of 71 points, indicating a healthy start for the wider market.
On April 3, the Indian market closed flat after a very erratic day. The Nifty was down 18.6 points, or 0.08 percent, at 22,434.70 at closure, while the Sensex was down 27.09 points, or 0.04 percent, at 73,876.82.
The Nifty 50 may encounter resistance at the 22,501 level, then at the 22,542 and 22,609 levels, according to the pivot point calculator. On the downside, the index can find instant support around 22,367, 22,326, and 22,260 levels. The GIFT Nifty, which gained 71 points, or 0.32 percent, suggests that the wider index in India is off to a good start. The 22,595.50 level was the trading range for the Nifty futures.
Conclusion
According to UNI, the forthcoming Lok Sabha elections caused the Department of Telecom to postpone the spectrum auction by two weeks on April 3. Now, two weeks from now, on June 6, only two days after the election results are declared, the auction will take place.
