Today, Thursday, April 16, the Sensex is trading at 78,200, up 150 points (0.41%). Nifty has also gained 50 points (0.39%), and has reached the level of 24,300. In today’s trading session, buying activity was seen in metal stocks, while selling pressure was visible in realty stocks.
Asian markets boom
Kospi (South Korea) 6216 125 2.05% Nikkei (Japan) 59550 1415 2.43% Hang Seng (Hong Kong) 26288 341 1.31%
Mixed trading was seen in American markets on April 15.
Index Level Point Change Percentage Change Dow Jones 48464 -72 -0.15% Nasdaq 24016 377 1.59% S&P 500 7023 56 0.80%
Support and resistance
Support Zone: 23,940 | 23,850 | 23,462 | 23,330 | 22,857
Support is the level where a stock or index finds a base, which prevents it from falling further. The increased buying activity at this level ensures that the price does not fall easily. This could be a potential buying opportunity.
Resistance Zone: 24,143 | 24,387 | 24,450 | 24,538 | 24,650 | 25,002
Resistance is the level where a stock or index faces obstacles in moving upward. This happens due to increasing selling pressure. A breakout above the resistance zone usually signals expectations of further upside.
Note: The support and resistance levels mentioned here are based on a report from Wealth View Analytics.
Sensex closed 1,264 points higher on Wednesday
There was a rise in the stock market on 15th April. Sensex jumped 1,264 points (1.64%) to close at 78,111. Nifty also settled at 24,231, up 388 points (1.63%). During the trading session, strong buying interest was witnessed in Auto, IT, Metal and Realty stocks.