Nifty 50 highly depends on global cues, and sector laggerds like IT pharma Bank etc. Lets follow moving averages technical and Global factors  fundamentals to see overvalued or undervalued.

Technicals  Support & Resistance

Intraday	weekly 5	monthly 20days	100 6 months	1 year 200EMA

24996 0.30+ as on 12th sept 2024,

EMA as on 12th sept 2024

5	10	20	50	100	200
20818.97	19880.16	19171.23	18532.84	18189.52	17873.59

NIFTY PE valuation

Nifty PE Ratio Chart

Nitfy Global Cues

Asian Equities

US Equities

US Bond Yield (Gains)

Dollar Index (Flat)

Asian currencies (Mixed)

Gold (Flat)

Crude (Gains)

LME Commodities (Down)  lead. Nickel down 1 percent, while Copper, Zinc, Aluminium down 0.5 percent each

Fund Flow Action FII
The foreign institutional investors (FIIs) extended their buying

Sources

https://portal.tradebrains.in/index/NIFTY/heatmap

https://enrichmoney.in/nifty50-bank-nifty-sensex30-news-research-analysis-chart