MUMBAI: The Indian stock market was trading flat after early losses on Tuesday amid mixed global cues.
At 9.29 am, Sensex was nearly unchanged adding just 1.69 points at 80, 892 points. Nifty was up 16 points or 0.06 per cent at 24, 696. Amid mixed global cues, the Indian indices at the opening bell opened lower with Nifty around 24, 600.
“After a negative opening, Nifty can find support at 24, 600 followed by 24, 500 and 24, 300. On the higher side, 24, 800 can be an immediate resistance, followed by 24, 900 and 25, 000, ” said Hardik Matalia from Choice Equity Broking.
A sustained move above 25, 000 is crucial for any meaningful pause in the ongoing selling pressure. As long as the index trades below the 25, 000 mark, the short-term outlook remains weak, and a ‘sell-on-rise’ strategy is advisable, he added.