Stocktwits - Indian stock markets trimmed opening gains in early Tuesday trading. The Nifty opened above 24,400 as positive global cues and sustained foreign fund inflows bolstered market sentiment.
At about 10:00 am IST, the benchmark Nifty traded flat at 24,383, while the Sensex held above 80,000.
Data from Stocktwits showed that sentiment around the Nifty 50 remained ’bullish.’
Nifty sentiment and message volume on April 29 as of 10:00 am IST. | source: Stocktwits
Investors are also paying attention to discussions surrounding tariff agreements. U.S. Treasury Secretary Scott Bessent on Monday said many of the United States’ top trading partners had made “very good” proposals to avert tariffs, and one of the first deals to be signed would likely be with India.
Reliance Industries (NSE:RELI) shares looked set to gain for a second session, following better-than-expected fourth-quarter earnings. Tata Motors (NSE:TAMO) also contributed to the upward momentum, while Tata’s Trent (NSE:TREN) witnessed strong buying ahead of Q4 results.
Indian auto component makers Samvardhana (NSE:SAMD) Motherson and Sona BLW rose 3% following reports that U.S. President Donald Trump plans to cut some duties on foreign parts and prevent tariffs on imported cars from stacking on other levies.
IndusInd Bank (NSE:INBK)’s stock inched 1% higher on Tuesday after Deputy CEO Arun Khurana resigned over accounting lapses. The resignation stems from a negative accounting effect due to incorrect internal reporting of derivative trades.
Wipro (NSE:WIPR) gained 1% after securing a 5-year contract to transform and manage German firm Vorwerk’s IT infrastructure.
Investors will also monitor Bajaj Finance (NSE:BJFN), Bajaj Finserv (NSE:BJFS), BPCL, and Ambuja Cements (NSE:ABUJ) as they report quarterly numbers later in the day.
SEBI-registered research analysts shared the day’s trade setup on Stocktwits.
Ashish Kyal noted that if Nifty moves above 24,370, traders should prepare for a potential rise towards the 24,480 level, with 24,150 as a crucial support zone.
Prabhat Mittal highlighted the Nifty’s support at 23,180 and resistance at 24,520, indicating that the index has room to move higher as long as it remains above its support, with 24,520 as the next significant hurdle.
For Bank Nifty, Mittal pointed to support at 54,900 and resistance at 56,000, suggesting a similar setup where the index could advance toward resistance if it sustains above its support level.
Asian markets and U.S. equity futures saw gains globally as investors anticipated key economic data and exercised caution ahead of key Big Tech earnings reports on Wednesday.