Dalal Street starts the week on shaky technical footing as Nifty ended sharply lower amid sustained selling and a steep rise in volatility. The index remains trapped below key moving averages, with 24,300–24,500 acting as a major ceiling and 23,200–23,000 the critical support. India VIX jumped to 18.79, while weakening RSI and a bearish weekly candle reinforce a cautious, defensive approach. Traders are advised to avoid aggressive buys until momentum improves.
US markets are treading carefully as Iran tensions push oil beyond $100 and traders refocus on inflation risk. The Dow, S&P 500 and Nasdaq edged higher, but the VIX rose, signaling growing anxiety ahead of April CPI and PPI. Higher energy prices could quickly feed broader costs, while tech-led optimism faces fresh macro pressure.
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