Nifty at 24,341.65, down 54.20 points for a fourth straight session; SBI Securities flags support at 24,240 and a breakout above 24,450 as the next trigger.
Alpha Score of 69 reflects moderate overall profile with strong momentum, strong value, moderate quality, moderate sentiment.
Indian equities fell for a fourth consecutive session on Friday, with the Nifty 50 trading at 24,341.65, down 54.20 points, or 0.22 per cent, as of 12:35 p.m. The Sensex lost 240.41 points, or 0.31 per cent, to 77,839.55. All major sectoral indices were in the red, with Nifty Metal the worst performer, followed by Nifty IT.
The session extended a run of declines that has left benchmarks searching for a trigger. Sudeep Shah, head of technical and derivatives research at SBI Securities, said the frontline indices continue to trade in an exceptionally narrow range. "A decisive breakout from the prevailing consolidation range will be crucial in determining the next directional move," he said, adding that stock- and sector-specific movements would take precedence until then.
Shah noted the Nifty has stayed within a 438-point band since Aug. 4.
Shah put the immediate support zone at 24,260–24,240. A slip below 24,240 could pull the index toward 24,120–24,100, he said.
On the upside, resistance sits at 24,430–24,450. A surge above 24,450 could extend gains to 24,600, according to Shah. The Sensex has support at 77,400 and resistance at 78,350.
Options activity pointed to the same range. Shah said there was meaningful call writing at the 24,400 and 24,500 strikes. The 24,300 put had substantial open interest, followed by the 24,200 strike. "With neither the bulls nor the bears able to establish a decisive upper hand, market participants have largely adopted a wait-and-watch approach," he said.
The advance-decline ratio on the Nifty stood at 14:36 at midday. On the BSE, 2,192 stocks advanced and 2,127 declined out of 4,545 traded, with 226 unchanged. A total of 167 stocks hit 52-week highs and 95 touched 52-week lows. Ten stocks were locked in upper circuits and 44 in lower circuits.
Mild profit-booking emerged in the Nifty Midcap 100 and Nifty Smallcap 100 after their recent strong outperformance.
Among Nifty 50 losers, TMPV fell 4.92 per cent to ₹332.40, with volumes above 2.10 crore shares. Asian Paints slipped 2.21 per cent to ₹2,694.70. Jio Financial Services dropped 1.82 per cent to ₹250.95. ONGC declined 1.68 per cent to ₹235.86, and NTPC shed 1.64 per cent to ₹338.60.
Apollo Hospitals rose 2.91 per cent to ₹8,840.00, leading the gainers. Bharti Airtel gained 2.81 per cent to ₹1,993.50. Adani Ports advanced 1.63 per cent to ₹1,685.00. Adani Enterprises rose 1.54 per cent to ₹3,010.70, and Bajaj Auto edged up 0.82 per cent to ₹11,757.00.
MCX crude oil opened sharply lower near ₹7,750, retreating from resistance near ₹8,050. US WTI crude eased to around $81 a barrel. COMEX gold traded near $4,380 after facing rejection near $4,500. MCX Gold slipped to around ₹1,52,500 from recent highs of ₹1,55,500. COMEX Silver traded near $64, and MCX Silver settled near ₹2,33,000, extending their downside after recent peaks. Momentum indicators were signalling caution across precious metals. The Indian rupee held steady, with USD/INR consolidating in the ₹95.3–₹95.4 range.
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