Market Pulse: Key Support and Resistance Levels Amid Global Volatility

📊 Global Market Snapshot • US indices showed mixed action: S&P 500 slipped 0.16%, Nasdaq dropped 0.71%, while Dow Jones edged up 0.11%, led lower by tech sector weakness. • European markets faced pressure with DAX down 1.6%, CAC 40 off 0.95%, and FTSE 100 holding steady. • In Asia, Nikkei gained 0.5%, but Kospi declined sharply by 2.3% amid profit-taking concerns; Hang Seng eased 0.3%. ⚡ Commodities Update • Brent crude steady near $107/barrel, WTI at $102/barrel, sustaining inflation worries. • Gold remains elevated at ₹4,720/oz, with silver inching higher. 📈 GIFT Nifty Opening • Opening around 23,456, up 0.15%, signaling a cautious and muted start. 🔍 Market Drivers • Persistently high crude prices continue to fuel inflationary pressures. • Tepid global sentiment follows a hotter-than-expected US inflation print. • Foreign Institutional Investors (FIIs) remain net sellers, partially offset by robust Domestic Institutional Investors (DIIs) buying. 🇮🇳 Indian Market Highlights (May 12 Close) • Sensex dropped 1,456 points (-1.9%) to 74,559. • Nifty 50 declined 436 points (-1.8%) to 23,380. • Bank Nifty breached the 54,000 mark, maintaining a weak bias. Sector Trends • Significant selling pressure in IT, financials, real estate, and PSU banks. • Pharma and FMCG sectors showing resilience amid volatility. 💰 FII & DII Activity • FIIs have withdrawn ₹21,469 Cr in May so far, including ₹1,959 Cr on May 12. • DIIs continue to support markets, investing ₹35,323 Cr in May, with ₹7,990 Cr on May 12 alone. • FIIs trimming exposure in IT, financials, and energy sectors. • DIIs backing pharma, FMCG, and select banking stocks. 📌 Technical Levels to Watch • Nifty support zone: 23,000–23,200; resistance near 23,800. • Bank Nifty support: 52,700–52,400; resistance at 54,365.