Tue Sep 24 03:24:04 UTC 2024: ## Indian Markets Poised for Positive Opening, But Caution Advised Ahead of F&O Expiry
**Mumbai, India -** Indian stock markets are expected to open on a positive note on Tuesday, with the Gift Nifty indicating a flat to positive start for the Nifty index. However, analysts are advising caution ahead of the monthly F&O expiry on Thursday, which could lead to heightened volatility in individual stocks.
The bullish sentiment stems from continued buying support, driven by gains in the telecom, banking, realty and oil & gas sectors. The market has witnessed three consecutive sessions of positive performance, with benchmark indices hitting new highs.
Adding to the positive outlook, China’s aggressive measures to stimulate its economy are expected to bolster global liquidity and boost stock markets. The People’s Bank of China has announced a series of measures aimed at reviving the sluggish economy, including a reduction in reserve requirements for banks, new policies to support the stock market, and reduced down payment requirements for second home buyers.
While the overall market sentiment remains positive, analysts advise investors to exercise caution due to the upcoming monthly expiry and the market’s overbought nature. Technical and derivative metrics are currently in “extremely overbought terrain,” suggesting a need for a more pragmatic approach.
The 26,000 mark is expected to pose a significant barrier to the market’s upward momentum, while support levels are seen at 25,800-25,750 and 25,650-25,600.
Analysts are recommending a strategy of securing profits at regular intervals to avoid complacency and emphasizing the importance of a stock-specific focus, given significant sectoral movements within the broader market.
They also advise closely monitoring global market developments.
First Piper 