Nifty, Sensex May Open Flat As Wall Street Sinks Over 2%
Nifty, Sensex: The Indian stock market is expected to start flat on April 22 as global cues remain weak. This comes after U.S. stock markets fell sharply overnight due to political pressure on the Federal Reserve.
Also Read: These 4 stocks can give you a tremendous return, opportunity for long term investors
Trump Criticizes Fed, Wall Street Falls
U.S. President Donald Trump criticized Federal Reserve Chair Jerome Powell again, demanding interest rate cuts. He blamed Powell for the possible economic slowdown and posted strong comments on social media.
As a result, major U.S. indices dropped over 2%.
- Dow Jones: -2.48%
- S&P 500: -2.36%
- Nasdaq: -2.55%
The selloff was led by tech stocks, especially the "Magnificent Seven" megacap companies.
Asian Markets Also Turn Cautious
Asian stock markets started with mild losses today.
- Hong Kong’s Hang Seng Index
- Japan’s Nikkei 225
- Topix Index
All traded slightly in the red, reflecting the global caution.
Key Levels to Watch on Nifty 50
Despite weak global cues, Nifty 50 showed strength in the last session with a strong bullish pattern.
According to Hrishikesh Yedve, AVP at Asit C. Mehta, Nifty has broken out of a “rounding bottom” pattern and crossed key resistance levels.
Key levels to watch:
- Support: 23,870
- Resistance: 24,230
- If Nifty stays above 23,870, buying on dips is advised
- A close above 24,230 could lead to 24,500–24,800 levels
Also Read: Sensex Jumps 800 Points, Nifty Crosses 24,100: Why the Market is Rising
.