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GIFT Nifty Rises, UBS Ups GAIL Target; Bulls Eye 23,500 on Favorable Global Cues
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CNBC TV18•22-09-2026, 07:15
GIFT Nifty Rises, UBS Ups GAIL Target; Bulls Eye 23,500 on Favorable Global Cues
- •Global cues, excluding the AI rally, appear favorable for bulls ahead of Nifty's weekly expiry.
- •Crude prices are cooling with Brent nearing $100, bond yields have decreased, and no new attacks reported in West Asia.
- •Nifty has gained for four consecutive days, closing above the 23,400 mark, and bulls now target 23,500.
- •Nifty Bank faces resistance between 56,500-56,700, with support at 56,250-56,150.
- •Key events today include NSE IPO allotment, a block deal in Pine Labs, and monitoring IT stocks after chip stock movements.
Key Questions Answered
The Nifty enters the weekly expiry after four straight days of gains, aiming for the 23,500 target on the upside while finding support shifts in the 23,300 to 23,350 zone after closing above 23,400.
The Nifty Bank index continues to encounter supply between the 56,500 and 56,700 levels, with current support holding within the 56,150 to 56,250 range.
Traders are watching the NSE IPO allotment, a block deal in Pine Labs, and IT stocks following overnight movements in chip stocks, alongside a raised target for GAIL by UBS.
