Mon May 12 01:40:00 UTC 2025: ## Indian Markets Dip Amid Geopolitical Tensions; Nifty Holds Range

**Mumbai, India** – Indian markets experienced a correction of over 1% on Friday and throughout the week ending May 9th, largely attributed to rising geopolitical tensions between India and Pakistan. The Nifty 50 index, while showing signs of weakness, remains within the range of 23,850-24,600. A break below 23,850 could send it down to 23,500-23,600, while a break above 24,600 could signal renewed upward momentum.

Technical indicators point to potential further weakness. A long bearish candle on the weekly chart and a rising volatility index (India VIX, up to a one-month high) suggest caution. The Nifty 50 formed a small bullish candle with a long upper shadow, indicating selling pressure at higher levels, while the Bank Nifty formed a Doji pattern signifying indecision. Both indices are below their short-term moving averages.

Options data reveals key resistance and support levels. For the Nifty, 25,000 acts as key resistance, while 24,000 is a significant support level. For the Bank Nifty, 54,000 is a key resistance, and 54,000 is also a key support. The Nifty Put-Call ratio (PCR) fell to 0.94, suggesting a slightly bullish sentiment, although the rising India VIX indicates increased market volatility.

Analysis of open interest (OI) shows a build-up in long positions for 30 stocks, long unwinding in 73, short-position build-up in 57, and short-covering in 60. Several stocks were either added to or removed from the F&O ban list.

This information is for informational purposes only and should not be considered investment advice. Consult with a financial advisor before making any investment decisions.

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