The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open lower on Friday, tracking weak global market cues, amid the ongoing US-Iran war and fears of a spike in inflation.
The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 23,112 level, a discount of nearly 188 points from the Nifty futures’ previous close.
The BSE and NSE were shut for trading on Thursday, 26 March 2026, due to stock market holiday on account of Ram Navami 2026.
On Wednesday, the Indian stock market extended its rally for the second consecutive session and ended sharply higher.
The Sensex jumped 1,205.00 points, or 1.63%, to close at 75,273.45, while the Nifty 50 settled 394.05 points, or 1.72%, higher at 23,306.45.
Here’s what to expect from Sensex, Nifty 50, and Bank Nifty today:
Sensex Prediction
Sensex continues to exhibit an improving price structure with formation of higher highs and higher lows
“This suggests strengthening short-term momentum and a gradual recovery from the recent corrective phase. Key technical levels indicate that the support for Sensex is placed in the 74,500 – 74,700 zone, which is expected to act as a demand area on declines, while resistance is seen around 75,800 – 76,000, where upside may face supply and profit-booking pressure,” said Hitesh Tailor, Technical Research Analyst at Choice Equity Broking.
Mayank Jain, Market Analyst, Share.Market said that the support for Sensex is placed at 74,500 – 74,600 levels, and the previous resistance at 74,500 has now flipped into a support zone.
“As long as Sensex stays above this, the bias remains positive. Resistance is seen at 76,000 – 76,200. To maintain this momentum, the index needs to clear the 76,000,” said Jain.
Nifty 50 Prediction
Nifty 50 index formed a bullish candle on the daily chart with a higher high and a higher low, signaling extension of the pullback for the second session in a row after recent sharp decline.
“A long bull candle was formed on the daily chart with minor upper shadow. Technically, the market action of the last two sessions indicates a formation of crucial bottom reversal around 22,500 levels (23rd March). Presently, Nifty is 50 encountering previous opening down gap resistance of 19th March around 23,400 – 23,600 levels,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
According to him, the underlying trend of Nifty 50 continues to be positive, and further sustainable upside from here could pull the index towards the next upside of 23,850 levels in the near term. Any consolidation or dip from here could find support around 23,000 levels.
Vishnu Kant Upadhyay, AVP – Research, Master Capital Services noted that the market was already in oversold territory, and the de-escalation news acted as a catalyst for short covering.
“Near-term sentiment has shifted to a cautiously positive bias, however, for a sustained positional buy opportunity to emerge, the Nifty 50 must convincingly close above the 23,850 – 23,900 zone, which coincides with the 21-day EMA. In the short-term, any pullback toward the 23,000 level should be viewed as an opportunity to initiate fresh long positions. The 22,800 mark now will act as an immediate support,” said Upadhyay.
Bank Nifty Prediction
Bank Nifty index rallied 1,102.45 points, or 2.10%, to close at 53,708.10 on Wednesday, forming a bullish candle on the daily chart, rebounding from the lower levels.
“For the Bank Nifty index, the immediate resistance is placed in the 54,200 – 54,300 zone. Any sustainable move above this zone could result in Bank Nifty extending its pullback towards 54,700, followed by 55,000 in the short term. On the downside, the zone of 53,200 – 53,100 zone is likely to act as a strong support,” said Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities.
Om Mehra, Technical Research Analyst, SAMCO Securities highlighted that the recovery in Bank Nifty has brought the index back near the 23.6% Fibonacci retracement level, placed around 53,760. However, the index continues to trade below its short-term moving averages, keeping the broader setup under pressure.
“The RSI has moved higher toward 38, indicating a recovery from oversold levels. The CCI has also shown improvement from deeply negative territory, while ADX remains elevated near 39, suggesting that the strength of the prior downtrend is still intact. The 54,200 – 54,500 zone is expected to act as an immediate resistance area. Unless the index sustains above this range on a closing basis, the recovery may remain limited,” said Mehra.
On the downside, he believes 53,200 – 53,000 remains a key support zone, and a break below this range may bring back pressure. The ongoing move reflects a short-term pullback within a broader corrective phase.
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.
