The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Tuesday after the announcement of India-US trade deal by President Donald Trump.
The trends on Gift Nifty also indicate a gap-up start for the Indian benchmark index. The Gift Nifty was trading around 25,937 level, a premium of nearly 795 points from the Nifty futures’ previous close.
Donald Trump announced the reduction in reciprocal tariffs on Indian goods to 18% from 25% and said that India will also reduce its tariffs and non-tariff barriers against the US to zero.
On Monday, the Indian stock market snapped its two-day losing streak and ended higher, with the Nifty 50 reclaiming the 25,000 level.
The Sensex rallied 943.52 points, or 1.17%, to close at 81,666.46, while the Nifty 50 settled 262.95 points, or 1.06%, higher at 25,088.40.
Here’s what to expect from Sensex, Nifty 50, and Bank Nifty today:
Sensex Prediction
Sensex formed a promising reversal pattern on intraday charts, and a bullish candle on daily charts, which supports a further uptrend from the current levels.
“We are of the view that now 81,500 and 81,200 will act as immediate support zones for the bulls. Above these levels, a pullback formation is likely to continue, with Sensex potentially moving up to 82,200 or the 200-day simple moving average (SMA). Further upside could also push the index toward 82,500,” said Shrikant Chouhan, Head Equity Research, Kotak Securities.
On the flip side, he believes if Sensex falls below 81,200, sentiment could change, and below this level, traders may prefer to exit their long positions.
Mayank Jain, Market Analyst, Share.Market said that the immediate support for the Sensex is now at the 81,000 – 81,200 zone.
“On the upside, reclaiming the 82,000 – 82,200 resistance zone is essential for a complete trend reversal. The 82,000 mark continues to host a high concentration of Call Open Interest (OI), acting as a major psychological and technical barrier for the bulls,” said Jain.
Nifty 50 Prediction
Nifty 50 formed a bullish candle on the daily chart along with an inside bar pattern.
“A long bull candle was formed on the daily chart beside the big bear candle of Sunday. Technically, this market action indicates counterattack of bulls from the lows, which is also a similar candle pattern like bullish Piercing line (not a classical one). The sharp recovery of Monday seems to be a cheering factor for bulls to make a comeback,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
According to him, on the way up, Nifty 50 could encounter crucial overhead resistances around 25,200 and next 25,400 levels in the near-term. Immediate support is placed at 24,900.
Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research), Centrum Broking Ltd said that the immediate resistance for Nifty 50 is placed at the 200-DMA around 25,210, and a decisive move above this level would confirm a short-term trend reversal.
“On the downside, immediate support is seen at 24,800, followed by 24,680. The RSI has reversed from oversold territory and is trending higher, indicating improving momentum. Meanwhile, India VIX cooled off sharply by 9% to close near 13.8, a further decline would add comfort for the bulls. Overall, the structure appears constructive for a follow-up move towards the 25,200 zone,” said Jain.
Mayank Jain highlighted that Nifty 50 has moved back toward its 200-day EMA (~25,160), which now acts as a crucial pivot for the next leg of the trend.
“According to current chart patterns, immediate support is placed between 24,850 and 24,950, where the 25,000 Put strike has seen aggressive fresh writing, reinforcing it as a new floor. Conversely, immediate resistance is visible in the 25,150 – 25,250 range, with a significant hurdle at 25,300 where Call writers remain positioned ahead of the weekly expiry,” said Jain.
Bank Nifty Prediction
Bank Nifty index ended 201.80 points, or 0.35%, higher at 58,619.00 on Monday, forming a bullish-bodied candle on the daily chart.
“The broader structure remains cautious as Bank Nifty continues to trade below key overhead resistance. Going forward, 58,400 remains the pivotal level — sustained trade above this could open a pullback toward 58,900 – 59,100, while a decisive move below may reintroduce downside risk toward 58,000 and 57,750, both of which remain structurally important demand zones,” said Ponmudi R, CEO of Enrich Money.
Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities said that the 50 day EMA zone at 59,000 – 59,100 now acts as the immediate resistance. On the downside, 58,100 – 58,000 remains the crucial support zone for the Bank Nifty index.
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.
