The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Monday, tracking a relief rally in global markets after the United States and Iran announced a framework for a deal to end their war in West Asia.
The trends on Gift Nifty also indicate a gap-up start for the Indian benchmark index. The Gift Nifty was trading around 23,987 level, a premium of nearly 300 points from the Nifty futures’ previous close.
On Friday, the Indian stock market ended sharply higher, with the benchmark Nifty 50 closing above 23,600 level.
The Sensex surged 1,695.40 points, or 2.30%, to close at 75,527.95, while the Nifty 50 settled 461.30 points, or 1.99%, higher at 23,622.90.
Here’s what to expect from Sensex, Nifty 50 and Bank Nifty today:
Sensex Prediction
Sensex formed a strong reversal pattern on daily charts, and a long bullish candle on weekly charts, which is largely positive. Last week, Sensex gained 1.73%.
“For positional traders, 74,800 and 74,300 would act as key support zones. As long as Sensex is trading above these levels, the uptrend is likely to continue. On the higher side, it could continue rallying till 75,900 and 76,300 – 76,600. However, below 74,300, the uptrend would become vulnerable,” said Amol Athawale, VP Technical Research, Kotak Securities.
Below this level, he advises traders to exit their long positions.
Mayank Jain, Market Analyst, Share.Market by PhonePe said that the technical support for Sensex lies at 74,800 – 75,000 zone, while resistance is seen at 76,300 – 76,500 levels.
“The psychological barrier of 75,000 has been decisively cleared and will now function as a critical demand zone. If the structural upward momentum sustains, Sensex is geared to challenge the 76,500 structural ceiling next,” said Jain.
Nifty Options Data
From a derivatives standpoint, the options data reflects a notable improvement in market positioning.
“Significant put open interest accumulation at 23,500, 23,400, and 23,300 strikes has established a strong support base, while substantial call open interest at 24,000 and 24,500 strikes marks the next resistance zone. The PCR has improved sharply to 1.34, indicating aggressive put writing and a clear improvement in trader sentiment,” said Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities.
Meanwhile, India VIX declined 6.78% to 14.72, signaling easing volatility expectations and strengthening confidence among market participants.
Nifty 50 Prediction
Nifty 50 formed a strong bullish candle on the daily chart and closed above the 20-day SMA. During the week, the Nifty 50 index rallied 1.10% and formed a bullish candle on the weekly chart.
“A long bull candle was formed on the daily chart which indicates a decisive breakout of the consolidation movement of the last few sessions. The short-term trend of Nifty 50 has turned positive after a recent choppy movement. The next upside levels to be watched are around 23,800 and next 24,100 in the near term,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
According to him, the immediate support for Nifty 50 is placed at 23,300.
Nilesh Jain, VP- Head of Technical and Derivative research at Centrum Finverse noted that the Nifty 50 index reclaimed its short-term 21-DMA at 23,550 and confirmed a breakout from a narrow consolidation range on the daily chart.
“The immediate hurdle is the 50-DMA, placed around 23,720. A decisive move above this level could open the door for a rally towards 24,000 in the near term. On the downside, 23,500 remains the key psychological support, followed by the strong double-bottom support at 23,070. The momentum indicator RSI has rebounded from lower levels and moved above the 50 mark, signalling improving strength in the underlying trend,” said Jain.
Dr. Ravi Singh, Chief Research Officer, Master Capital Services highlighted that the Nifty 50 index snapped its two-week losing streak and reclaimed its 21 day EMA, indicating improving short term momentum.
“Technically, Nifty 50 has formed a strong base in the 23,000 – 23,050 zone, which remains a crucial support area. As long as this level stays intact, a buy on dips approach remains favorable. Immediate support is placed near 23,300, while the 55 day EMA around 23,800 may act as immediate resistance,” said Singh.
A decisive breakout above 23,800 could trigger further upside momentum towards the 24,100 level, he added.
Bank Nifty Prediction
Bank Nifty index jumped 1,638.05 points, or 2.97%, to close at 56,814.80 on Friday, forming a strong bullish candlestick pattern on the daily chart with a higher high and a lower low, signaling continuation of the positive momentum.
For the week, the Bank Nifty index surged 4.25% and gave a decisive breakout from its recent sideways consolidation range on the weekly chart, indicating a revival of bullish momentum.
“Bank Nifty index is comfortably trading above all its key moving averages. The 20-day and 50-day EMAs have started turning higher, reflecting an improvement in the underlying trend. Momentum indicators also remain supportive of the ongoing upmove. Notably, the daily RSI has surged above the 60-mark for the first time since February 2026, highlighting a significant pickup in bullish momentum,” said Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities.
Given the favorable price structure and strengthening momentum, he expects Bank Nifty to extend its upward trajectory and test the 57,500 level, followed by 58,300 in the near term.
“On the downside, the zone of 56,200 – 56,000 is likely to provide strong support and act as a cushion against any short-term corrective moves,” said Shah.
Om Mehra, Technical Research Analyst, SAMCO Securities highlighted that the Bank Nifty index is currently trading above its 20-day and 50-day SMAs, though it remains below the 200-day SMA, which is placed near the psychologically important 57,000 level.
“The RSI has surged to 65, reflecting a sharp improvement in momentum. The MACD has crossed above the zero line, with the histogram expanding positively. A sustained close above 57,000 would open the door for a move toward the 57,500 – 57,800 zone. On the downside, 56,400, followed by 56,200, has now emerged as a key support area,” said Mehra.
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.
