The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Tuesday, tracking upbeat global market cues, after US President Donald Trump said that the US-Iran war could be nearing its end.
The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 24,397 level, a premium of nearly 275 points from the Nifty futures’ previous close.
On Monday, the Indian stock market ended sharply lower amid escalating US-Iran war and a steep surge in crude oil prices.
The Sensex crashed 1,352.74 points, or 1.71%, to close at 77,566.16, while the Nifty 50 settled 422.40 points, or 1.73%, lower at 24,028.05.
Here’s what to expect from Sensex, Nifty 50, and Bank Nifty today:
Sensex Prediction
Sensex is holding a lower top formation on daily and intraday charts, which indicates further weakness from the current levels.
“We are of the view that the current market texture is weak but oversold. For day traders, 77,500 – 77,200 would act as key support zones. Above this, we could see an extension of the pullback move till 78,000 – 78,200. On the flip side, below 77,200, the selling pressure is likely to accelerate. If Sensex falls below this level, it could retest 76,500. Further downside may also continue, potentially dragging the index to 76,000,” said Shrikant Chouhan, Head Equity Research, Kotak Securities.
Mayank Jain, Market Analyst, Share.Market said that the immediate support for Sensex lies at 76,000 – 75,800 zone, and a decisive break below this level could lead to a deeper correction toward 75,000.
“Immediate resistance for Sensex lies at 78,000 – 78,200. To regain bullish momentum, the Sensex must first reclaim its 200-day EMA,” said Jain.
Nifty Options Data
In the derivatives market, significant put writing at the 23,800 strike and aggressive call writing at the 24,400 strike indicate that the market currently has a well-defined trading range.
“Traders are therefore advised to remain cautious near key support levels and avoid initiating fresh directional trades until a decisive breakout above the resistance zone confirms a clearer trend direction,” said Hitesh Tailor, Research Analyst – Research at Choice Equity Broking.
Nifty 50 Prediction
Nifty 50 formed a bullish candle with a lower high and a lower low and a bearish gap above its head, signaling a partial pullback after a gap down opening.
“A reasonable green candle was formed on the daily chart with a long lower shadow. Technically, this market action indicates a sharp down trended movement with upside recovery. The overall structure of the market remains weak and the bearish chart pattern like lower tops and bottoms is intact on the daily/weekly chart,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
According to him, having formed a new lower low around 23,700 on Monday, there is a higher probability of minor pullback in the short term towards 24,200 – 24,300 levels for a sell on rise opportunity.
Riyank Arora, Associate Vice President – HNI & Derivatives, Hedged.in said that the immediate major support for Nifty 50 is placed around 23,800, while 23,700 remains a crucial level to watch.
“If the Nifty 50 index manages to hold above 23,700, we could see short covering towards the 24,300 – 24,400 zone in the near term. However, a sustained break below this support may keep pressure on the index in the short term,” said Arora.
Bajaj Broking Research noted that the overall bias continues to remain down, while volatility is likely to remain elevated amid uncertain global cues, rising crude oil prices and escalating geo-political tension.
“Nifty 50 index session rebounded after testing the key support area around 23,700 – 24,000 being the confluence of the 100 weeks EMA which has historically acted as key support and the trendline joining the lows of CY23 and CY25. Going ahead, Nifty 50 index holding above the support of 23,700 will signal a pullback towards 24,400 – 24,500 levels in the coming sessions. Failure to do so will lead to extension of the decline towards 23,400 – 23,200 levels,” said the brokerage house.
Bank Nifty Prediction
Bank Nifty index slipped 1,763.45 points, or 3.05%, to close at 56,019.80 on Monday, forming a small-bodied candle with a long lower shadow, indicating buying interest at lower levels.
“Bank Nifty index has fallen below its 200 day EMA for the first time since April 2025, signalling a shift in the medium term trend. The daily RSI at 24.88, which was the lowest reading since January 2025. Going forward, the 55,600 – 55,500 zone will act as the immediate support. A sustained break below 55,500 may extend the decline towards 54,900, followed by 54,400,” said Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities.
On the upside, he added that the 56,500 – 56,600 band will remain the crucial resistance zone, and only a breakout above this level may trigger a meaningful recovery.
Vatsal Bhuva, Technical Analyst at LKP Securities highlighted that the Bank Nifty index formed a long Dragonfly Doji candlestick, indicating buying interest emerging from lower levels, and breached its 200-day DMA during Monday’s session.
“However, the RSI on daily and hourly charts is in an oversold zone, suggesting a potential rebound in the coming sessions. Any recovery may face resistance near 57,500, while immediate support is placed at 55,300, Monday’s low. A stronger bullish view will emerge only if the index reclaims its 50-day moving average,” said Bhuva.
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.
