The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open lower on Thursday, tracking mixed global market cues, and ahead of the release of Economic Survey 2026.
The trends on Gift Nifty also indicate a weak start for the Indian benchmark index. The Gift Nifty was trading around 25,365 level, a discount of nearly 86 points from the Nifty futures’ previous close.
Union Finance Minister Nirmala Sitharaman will table the 2025–26 in Parliament today. It will be followed by a media briefing by Chief Economic Adviser (CEA) V. Anantha Nageswaran. The 2026 is set to be presented on Sunday, February 1.
Meanwhile, the kept the interest rates unchanged as expected in the target range of 3.5% to 3.75%.
On Wednesday, the Indian stock market ended higher amid buying across segments, with the benchmark Nifty 50 closing above 25,300 level.
The surged 487.20 points, or 0.60%, to close at 82,344.68, while the Nifty 50 settled 167.35 points, or 0.66%, higher at 25,342.75.
Here’s what to expect from Sensex, Nifty 50, and Bank Nifty today:
Sensex Prediction
Sensex formed a bullish candle on daily charts, and it is holding an uptrend continuation formation on intraday charts, which is largely positive.
“For day traders now, 82,000 would act as a key support zone. Above 82,000, the pullback rally could continue till 82,800. Further upside may also continue, potentially lifting to 83,000. On the flip side, below 82,000, sentiment could change. If the index falls below this level, traders may prefer to exit their long positions,” said Shrikant Chouhan, Head – Equity Research, Kotak Securities.
Nifty 50 Prediction
Nifty 50 saw a follow-up move and formed a bullish candle on the daily chart.
“A reasonable bull candle has been formed on the daily chart with upper and lower shadow. Technically, this market action indicates continuation of Pre-Budget rally and the market is now placed at the edge of breaking above the crucial overhead resistance of 25,450 levels,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
According to him, the overall chart pattern of indicates a formation of short-term bottom reversal for the market, and a sustainable move above the hurdle of 25,450 – 25,500 levels could open broad based rally for the Nifty 50 towards 25,800 levels in the near term. Immediate support is placed at 25,200 levels.
Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research), Centrum Broking Ltd. noted that the Nifty 50 index continues to hold above its long-term 200-DMA at 25,170, which is likely to act as a key support.
“The overall structure remains positive, with scope for the up-move to extend towards the 25,500 – 25,600 zone, where the immediate hurdle of the 100-DMA is placed at 25,600 levels. The RSI has rebounded from oversold levels and is trending higher, indicating improving momentum. Meanwhile, the volatility index INDIAVIX cooled off sharply by 7% to around 13.50, and any further decline would add comfort to the bulls,” Jain said.
He expects Nifty 50 to trade in a broader range of 25,200 – 25,600 in the short term.
Bank Nifty Prediction
Bank Nifty index ended 393.35 points, or 0.66%, higher at 59,598.80 on Wednesday, after witnessing a sharp intraday bullish reversal, marked by strong impulsive candles.
“Bank Nifty index has managed to close above its key short-term support of the 20-day EMA. Meanwhile, the shrinking MACD histogram bars on the daily chart suggest a loss of bearish momentum and hint at a potential trend stabilisation in the near term. For Bank Nifty, the immediate resistance is placed in the 59,900 – 60,000 zone, making it a crucial supply area to watch,” said Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities.
He believes any sustained move above this zone could lead to index continuing its pullback on the upside towards 60,300, followed by 60,600 in the near term. “On the downside, the 50-day EMA zone of 59,100 – 59,000 is likely to act as a strong support.”
Om Mehra, Technical Research Analyst, SAMCO Securities said that the RSI has moved back toward the 52–53 zone, indicating improvement from lower levels. The SMI remains below the zero line, though the recent uptick reflects a pause in downside momentum following the recent decline.
“On the downside, 59,200 – 59,000 remains the immediate support band. Resistance remains around 59,850 – 60,000. Holding above 59,500 remains important to continue to move toward higher levels, while a failure to sustain above this zone may keep the index confined to a narrow and volatile range,” 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.