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Nifty 50 Bulls Meet 24340 Wall as Hormuz Oil Shock Sends Crude Spiking
Economy
Published on 30 April 2026
A “bullish flag” can’t beat one geopolitical trigger
The Nifty 50 is torn between a bullish technical setup and a fast-worsening energy shock. Record earnings from firms like Bajaj Finance and Maruti Suzuki are supporting sentiment, but a Strait of Hormuz blockade and crude near $121 are pressuring the market. Brokerages warn that geopolitics is the near-term hurdle holding back a breakout above 24,340.
- Nifty 50 has formed a bullish flag but faces resistance at 24,340
- Strong earnings from marquee firms provide market support
- Strait of Hormuz blockade is fueling crude spikes and risk-off pressure
- Brokerages flag geopolitics as the main roadblock to a breakout
Read the full story at Republic
This summarization was done by Beige for a story published on 
Republic