Home›Global Markets›North America›Nifty 50 edges higher as crude falls and foreign buyin…

Nifty 50 edges higher as crude falls and foreign buying returns

Nifty 50 rose 0.77% for a second straight week, while the index recaptured its 200-day exponential moving average after nearly five months below it.

Reported · Written up by our desk · North America

LiveMint Markets reported the Nifty 50 extended gains for a second consecutive week, rising 0.77%. The move was supported by easing geopolitical tensions and a sharp drop in crude oil prices, which have retreated to around $80 per barrel, alongside renewed buying from foreign portfolio investors.

According to Pabitro Mukherjee, Deputy Vice President for technical analysis at Bajaj Broking, the index is trying to close above a March 2026 bearish candle on the monthly chart. He said a decisive monthly close above the 24,989 to 22,331 zone would improve the medium term trend and could open the way for a rally toward the 25,200 to 25,300 area during August.

Mukherjee also pointed to technical levels near 24,200 to 24,000 as immediate support, noting the region previously acted as resistance during June and July. He added that the index reclaimed the 200-day exponential moving average for the first time since it was lost on 27 February 2026, which he said signals a more constructive market structure.

Latest closeWTI crude $78.07 ▲3.8%

More like this

Sources