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GIFT Nifty Dips 70 Pts; Kotak Initiates 'Sell' on Dhoot Transmission Amid Market Volatility
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CNBC TV18•28-09-2026, 08:10
GIFT Nifty Dips 70 Pts; Kotak Initiates 'Sell' on Dhoot Transmission Amid Market Volatility
- •GIFT Nifty is down 70 points, and Kotak has initiated a 'Sell' rating on Dhoot Transmission.
- •The Nifty 50 enters a truncated week in 'sell-on-rallies' mode, facing its seventh consecutive losing week.
- •Bulls have defended the 23,000 level, but rising Brent crude prices above $106 a barrel and persistent bond yields pose challenges.
- •Supply of paper continues with block deals and IPOs, keeping broader market activity stock-specific.
- •Immediate resistance for Nifty is at 23,150-23,250, with a break below 23,000 potentially leading to 22,700; Nifty Bank faces key support at 55,000.
Key Questions Answered
The bulls have managed to defend the 23,000 level on the downside, with immediate resistance established in the 23,150 to 23,250 zones. If the index breaks below 23,000, it could potentially decline toward the 22,700 mark.
Brent crude has climbed back above $106 per barrel following the rejection of the latest proposal by US President Donald Trump.
For the Nifty Bank, 55,000 remains a crucial downside level, while persistent supply continues to emerge between the 55,700 and 55,800 zones.
