May 12 trade setup: Will NIFTY50 be able to hold 23,800 and rise above 24,100 on the day of expiration?
Due to poor global indications, the benchmark indices are predicted to open lower once more on Tuesday. Tuesday morning, GIFT NIFTY futures fell more than 180 points as a result of rising commodities costs and sluggish Asian markets. Asian markets saw mixed results on Tuesday morning, with Japanese markets remaining close to record highs and trading flat to negative. In the meantime, following an extraordinary rally, Korean markets saw significant profit booking. Due to investors' preference to take some money off the table, the KOSPI fell more than 3% on Tuesday morning. The price of Brent crude oil remained close to $105 per barrel despite the lackluster news coming from the Middle East. Investor concerns have grown as the Strait of Hormuz's effective shutdown continues to put pressure on the oil supply. As investor anxiety over further escalations in the Middle East grew, US markets maintained their record run with a cautious outlook. As tech stocks continued to boost mark...