Stock market today: Indian stock markets moved higher on Monday, with the Sensex and rebounding after Friday’s break in their six-day winning run. Softer-than-expected U.S. inflation data boosted hopes of two more rate cuts in 2025.
The S&P BSE jumped over 600 points to surpass the 84,700 mark, while the NSE Nifty 50 gained more than 150 points to move past 25,950.
U.S. consumer inflation cooled in September, strengthening expectations that the Federal Reserve will announce rate cuts at its policy meetings in October and December. Lower U.S. interest rates generally enhance the attractiveness of emerging markets like India for foreign investors.
Meanwhile, senior officials from the U.S. and China have agreed on a preliminary framework for a trade deal, which Presidents Donald Trump and Xi Jinping are expected to review later this week, according to U.S. sources.
On Friday, both indices ended on a flat note gaining 85 points after a strong upward move earlier in the week.
“The index ended the week on a flat note, gaining 85 points after a strong upward move. On the weekly timeframe, the index corrected nearly 311 points from its high, making it a volatile session and suggesting a phase of consolidation after recent sharp gains. Nifty witnessed temporary profit booking, slipping below the 25,800 mark and eventually closing at 25,795.15, indicating a pause in momentum as traders booked profits at higher levels,” said Hardik Matalia, Derivative Analyst at Choice Broking.
Key technical levels to watch out in near-term
Nifty 50
Matalia believes that a decisive break down below 25,670 could accelerate weakness towards 25,500, and further down to 25,400.
“Conversely, on the upside, immediate resistance is seen at 25,950, followed by 26,000 and 26,100. A sustained move above these levels would confirm the continuation of the bullish trend, while failure to cross them may keep the short-term trend range-bound,” Matalia said.
Support: 25500 – 25300
Resistance: 25800-26000
Bias: Sideways to Bullish
Bank Nifty
ended the week on a flat note, closing at 57,699, after hitting a new lifetime high amid a highly volatile trading week.
The index displayed notable strength by surpassing its previous peak of 57,628, but subsequently witnessed a correction of nearly 870 points from the week’s high, indicating profit-taking at higher levels. The slip below the 58,000 mark suggests temporary consolidation or mild profit booking after a strong upward move.
“A decisive close above 58,000 would reaffirm bullish momentum and open the door for further gains, whereas failure to sustain above this level could invite short-term weakness. Traders are advised to remain constructive yet disciplined, closely monitoring 57,400 on the downside and 58,000 on the upside for cues on the next directional move,” Matalia added.
Support: 57400-56900
Resistance: 58000-58700
Bias– Sideways to bullish
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