Morning Market View:
Nifty again may come under selling pressure today after the recent resilience all thanks to the fresh tariffs imposed by US on the European countries. The sentiment on the street is still cautious but is having good support around the lower zones of 25400-25500 on the daily charts. On the flip side, the price may witness some covering only once it crosses 25800 mark. The view for the day will be to remain cautious and avoid major long positions.
At current juncture, the Banking index still is consolidating in the broad range with price having support around the lower levels all thanks to some strength witnessed in the ICICIBANK and SBIN. The index will react on the ICICIBANK and HDFCBANK results today which were out on the weekend. The trend of the index is neutral till it is holding 59400-59500 levels on the lower side while above 60300 only the view will be more positive for the near term.
On the geopolitical front, the ongoing tariff issues followed by the US-IRAN issue is the major culprit behind the current cautious stance on the markets
Results for the day: