The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open lower on Monday, tracking weak global market cues after US President Donald Trump announced that he will impose an additional 100% tariff on imports from China.
The trends on Gift Nifty also indicate a gap-down start for the Indian benchmark index. The Gift Nifty was trading around 25,325 level, a discount of nearly 86 points from the Nifty futures’ previous close.
On Friday, the equity market indices ended higher, with the benchmark Nifty 50 closing above 25,200 level.
The Sensex rallied 328.72 points, or 0.40%, to close at 82,500.82, while the Nifty 50 settled 103.55 points, or 0.41%, higher at 25,285.35.
Here’s what to expect from Senex, Nifty 50, and Bank Nifty today:
Sensex Prediction
Sensex formed a long bullish candle on weekly charts and is also trading above the 20-day SMA (Simple Moving Average), which is largely positive.
“We are of the view that the 20-day SMA and the 81,700 level will act as crucial support zones for short-term traders. As long as Sensex is trading above 81,700, the uptrend is likely to continue. On the higher side, the index could rally to 82,900 – 83,100. Further upside may also continue, potentially lifting the index up to 83,700,” said Amol Athawale, VP Technical Research, Kotak Securities.
Conversely, he believes if Sensex falls below 81,700, the uptrend would become vulnerable, and below this level, traders may prefer to exit their long positions.
Mayank Jain, Market Analyst, Share.Market said that the immediate resistance for Sensex is at 82,700 – 82,900, and a convincing breakout above these levels could propel the index higher.
“On the downside, support lies at 82,000 – 81,900. A break below this zone could test the next support at 81,300,” said Jain.
Nifty 50 Prediction
Nifty 50 formed a bullish candle on the daily chart, marking the second consecutive week of gains. For the week, Nifty 50 gained 1.57% and formed a cup and handle pattern on the weekly chart.
“A long bull candle was formed on the daily chart, which indicates an uptrend continuation pattern with bullish formation like higher tops and bottoms. Nifty 50, on the weekly chart, formed a long bull candle that has almost engulfed the upper area of long bear candle of September end. We also observe bullish higher highs and lows formations as per weekly timeframe chart,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
According to him, the underlying trend of the market remains positive, and Nifty 50 is expected to advance towards the important resistance of around 25,400 – 25,450 levels by this week. Immediate support is placed at 25,150.
Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research), Centrum Broking Ltd. noted that the MACD has triggered a bullish crossover above the zero line, while the RSI remains above 55, both indicators reinforcing the bullish outlook. Additionally, the Nifty 50 index is trading comfortably above both its short-term and long-term moving averages.
“On the derivatives front, significant short covering has been observed across most in-the-money strikes, with call writers now repositioning at the 25,500 level. The support base has shifted upward to 25,050, and as long as the index stays above this level, a move toward 25,500 appears likely in the short term,” said Jain.
Mayank Jain said that the immediate resistance for Nifty 50 is at 25,400 – 25,450, and a sustained trade above this band could open further upside towards 25,600.
“On the downside, support is at 25,100 – 25,000. If breached, the next support is around 24,800,” he added.
Bank Nifty Prediction
Bank Nifty index surged 417.70 points, or 0.74%, to close at 56,609.75 on Friday, forming an Inverted Head and Shoulders pattern on the daily chart. For the week, Bank Nifty index rallied 1.84%, forming a strong bullish candle accompanied by consistent trading volumes, reflecting renewed buying interest and strength in the banking space.
“From a technical perspective, moving average-based setups are suggesting strong bullish momentum, with the Bank Nifty index trading above key short- and long-term averages. Additionally, the daily RSI has rebounded sharply after taking support near the 60 mark, suggesting a shift from a neutral to a super bullish zone — a sign of strengthening momentum,” said Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities.
With both price action and relative strength indicators pointing north, Bank Nifty appears well-positioned to challenge its record highs in the near term, he added.
“We believe the Bank Nifty index is likely to test 57,200, followed by 58,000 in the short term. While, on the downside, the zone of 56,000 – 55,900 will act as crucial support for the index,” Shah said.
Puneet Singhania, Director at Master Trust Group highlighted that the Bank Nifty index has successfully broken out of a multi-week consolidation, establishing immediate support around 56,100 – 56,200, providing a strong buffer for buyers on potential dips.
“Technical indicators remain favorable, with MACD in positive territory, reinforcing upward momentum. On the upside, resistance is anticipated near the psychological 57,000 level, and a decisive breakout above this could propel the Bank Nifty index toward 57,600, close to all-time highs. Overall, the structure supports a disciplined “buy on dips” strategy,” said Singhania.
Bajaj Broking Research expects the Bank Nifty index to maintain positive bias and head higher towards the all-time high of 57,300 – 57,600 in the coming week.
“On the downside support is placed at 55,500 – 55,000 levels being the confluence of the 20-days & 50-days EMA and the 61.8% retracement of the last up move (54,227 – 56,502). We believe bias remains positive and dips should be used as a buying opportunity,” said Bajaj Broking Research.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
