Indian markets eye 24,000 as Iran tensions keep traders cautious
Indian stock markets look ready to open higher today, with the GIFT Nifty up 130 points and hinting that the Nifty 50 could reclaim the 24,000 mark.
Still, traders are keeping an eye on rising Middle East tensions after U.S.-Saudi strikes on Iran-linked militant sites and Iranian missile attacks on US bases, so there's a bit of caution in the air.
Fed decision awaited as oil rises
Crude oil prices have jumped (WTI at $82, Brent at $86.8) thanks to those geopolitical worries.
Meanwhile, Asian tech stocks are rebounding: South Korea's KOSPI rose over 1% and Japan's Nikkei gained around 1%.
Back home, breaking past 24,000 is important for Nifty's momentum; Ponmudi R from Enrich Money says 24,400 is where the 200-day Exponential Moving Average (EMA) is placed.
And globally? Everyone's waiting to see what the US Federal Reserve decides about interest rates later today, it could shake up markets everywhere.