Indian Stock Market Eyes Strong Opening Amid Positive Global Cues

Indian Stock Market Set to Open Strong on December 11

The Indian stock market is expected to open on a strong note on Thursday, December 11, tracking positive global market cues. The Federal Reserve's decision to cut its benchmark interest rate by 0.25 basis points on Wednesday has boosted investor sentiment.

Key Takeaways from the Federal Reserve's Decision

• The Federal Reserve cut its benchmark interest rate to 3.6%, its lowest in nearly three years.
• The move is expected to have a positive impact on the Indian stock market, with the Sensex and Nifty 50 likely to open higher.
• The Federal Reserve signaled a possible pause in interest rate cuts, with officials expecting only one more rate cut next year.

Market Expectations for Sensex, Nifty 50, and Bank Nifty

Analysts expect the Sensex to trade within a tight range, with support in the 84,000-84,100 zone and resistance at 85,000-85,100.

The Nifty 50 is expected to trade within a narrow range, with firm support zones and stiff resistance levels capping momentum.

Bank Nifty is witnessing a sideways consolidation with a clear bearish undertone, with immediate support at 58,750-58,775 and resistance near 59,300.

Expert Insights

Mayank Jain, Market Analyst at Share.Market, said, "The Sensex continues to trade within a tight range, mirroring its recent pattern of oscillating between 84,000 and 85,000."

Dhupesh Dhameja, Derivatives Research Analyst at SAMCO Securities, noted that the derivatives setup is signaling a distinctly cautious undertone, with call writers adding fresh positions at at-the-money and nearby strikes.

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