Nifty bulls push toward 24,000 as Q2 results and cheaper oil lift sentiment
The Nifty 50 has gained over 1,300 points from its October 29 low and sits near 24,000, with key levels and global cues in focus, per TradingView.
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what happened
According to TradingView, the four-day rally on the Nifty 50 has added more than 1,300 points from the October 29 lows. The index is now roughly one solid session away from reclaiming 24,000, while 23,500 is seen as support the bulls want to keep.
Reliance Industries led Monday's advance, and banks took over on Tuesday. Reliance was the most traded stock across both sessions, and its MTF positions rose 60% from October 30. For the Nifty Bank, a close above 55,500 is seen as positive, with 55,700 to 55,800 the next upside markers.
The main global cues are the outcome of the US midterm elections and any diplomatic breakthrough to end the US-Iran war. Crude oil remains below $105 a barrel.
why it matters
Lower crude prices ease cost pressure on importers and inflation expectations, but the rally currently rests on a handful of heavyweights and technical levels, while the external backdrop stays uncertain.
instruments
sources
- Sensex Today | Stock Market LIVE Updates: Nifty bulls make a push to 24,000 amidst Q2, midterm results, easing oil prices — TradingView, 4 November 2026 at 00:40 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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