Share Market Today: Nifty May Slip Under 25,500 Amid Global Weakness – Key Levels to Watch

Indian Share Market Prediction Today: Today, Friday, February 27, is expected to be a challenging day for the Indian stock market. While the Sensex and Nifty closed flat after a highly volatile session on Thursday, signals from the Gift Nifty today point to a weak market opening. Uncertainty in global markets and profit-booking by investors at higher levels have dampened sentiment. Today is the last trading day of the week, so the market may see more volatility in the second half. Let’s take a closer look at which levels will prove decisive for the market today.

On technical charts, the Nifty 50 is currently trapped in a consolidation zone. Yesterday, the Nifty closed with a marginal gain of 14 points at 25,496, while the Sensex fell 27 points to 82,248. The Nifty is trading down by around 75 points this morning, indicating that the market could open below the 25,450 level.

The strongest support for the Nifty today is seen between 25,300 and 25,350. If the Nifty breaks this level, it could slide directly towards 25,200, where the 200-day EMA (200-DMA) provides strong support. At the higher levels, 25,600 to 25,700 remains a major resistance zone. Unless the Nifty closes above 25,750, there is little hope for a significant rally in the market.

Several global and domestic factors will play a major role in determining the market’s direction today. US markets saw a mixed trend last night, and tech stocks remained largely unimpressed even after Nvidia’s results. Investors are also eyeing India’s third quarter (Q3) GDP data, which is scheduled to be released this evening. Growing concerns about the ongoing nuclear talks between the US and Iran have also led investors to adopt a wait-and-see approach. Crude oil prices are stable between $70 and $74, but the rupee’s weakness against the dollar (90.93) remains a concern.

Even though indexes are sluggish, some key stocks and sectors may see significant movement today. The banking and IT sectors will remain volatile due to sector rotation. Shares like Bharat Electronics (BEL), Sun Pharma, and Tata Motors held firm in yesterday’s session, while Trent, HDFC Bank, and Power Grid remained under pressure.

Keep an eye on stocks like Balu Forge and KP Energy today as they have received large new orders. Defense stocks may also continue to see positive momentum today due to news of the India-Israel tech transfer.

As today is the last trading day of the week, it would be wise to adopt a ‘buy on dips’ strategy, but only near strong support levels. Intraday traders are advised to place a strict stop-loss of 25,300 for Nifty and 60,600 for Bank Nifty. The market is currently in no clear direction, so wait a bit before taking aggressive positions. Consider fresh purchases only if Nifty manages to recover above 25,450 after the initial decline.