The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open on a flat note Monday, tracking mixed global market cues.
The trends on Gift Nifty also indicate a flat-to-positive start for the Indian benchmark index. The Gift Nifty was trading around 25,614 level, a premium of nearly 24 points from the Nifty futures’ previous close.
On Friday, the Indian stock market extended losses for the third consecutive session and ended lower.
The dropped 94.73 points, or 0.11%, to close at 83,216.28, while the Nifty 50 settled 17.40 points, or 0.07%, lower at 25,492.30.
Here’s what to expect from Sensex, Nifty 50, and Bank Nifty today:
Sensex Prediction
Sensex formed a bullish hammer candle on the daily chart, indicating renewed buying interest near its 50-day EMA at 82,700. For the week, Sensex declined 722.43 points, or 0.86%, and formed a bearish candle with a long lower shadow on the weekly chart.
“This pattern reflects short-term exhaustion in the downtrend and hints at a possible reversal or consolidation phase in the sessions ahead. Traders should watch for follow-through strength in the coming days, as sustained buying above the rebound zone could help restore bullish momentum,” said Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities.
In terms of key levels, Shah said that the 82,700 – 82,600 range would act as a vital support zone for , while on the upside, resistance was seen around 83,800 – 83,900.
“A decisive breakout above 83,900 could trigger a sharp rally, opening the way for targets near 84,500 and subsequently 85,000 in the short term,” said Shah.
Mayank Jain, Market Analyst, Share.Market said that the technical support for Sensex remains at 83,000 for this week, while any move above the 83,900 – 84,000 zone is likely to revive bullish momentum.
Nifty OI Data
In the derivatives segment, the maximum Call Open Interest (OI) is concentrated at the 25,600 – 25,700 strike levels, suggesting strong resistance at higher zones. On the downside, the maximum Put Open Interest (OI) is seen at the 25,400 – 25,300 strike levels, highlighting key support areas. Overall, the setup indicates a sideways- to-range-bound trend, with a positive undertone as long as the index sustains above its crucial support levels, said Hardik Matalia, Derivative Analyst at Choice Broking.
Nifty 50 Prediction
Nifty 50 managed to defend the 34-DEMA support of 25,450 and formed a bullish candle on the daily chart, indicating strength. For the week, Nifty 50 fell 229.8 points, or 0.89%, marking its second consecutive week of decline after strong October gains.
“This healthy correction has improved risk-reward levels, offering a fresh opportunity for accumulation. The RSI has cooled off from overbought territory and now hovers near 50, indicating room for an upward move. Technically, resistance is seen around 25,750 – 25,800, and a breakout above this zone could trigger a rally toward 26,100. On the downside, support is placed at 25,300 – 25,350, coinciding with the 55-day EMA, suggesting downside risk remains limited,” said Puneet Singhania, Director of Master Trust Group.
Overall, the market structure stays bullish, and traders should continue to adopt a buy-on-dips approach with a positive medium-term outlook, he added.
Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research), Centrum Broking Ltd. noted that the momentum indicators and oscillators have turned negative on the daily chart with a sell crossover, although they continue to remain in buy mode on the weekly chart.
“Overall, Nifty 50 is approaching a crucial support zone, where a rebound could be expected. The broader structure remains ‘buy on dips’ as long as Nifty 50 holds above 25,160. A decisive move above 25,700 would provide a bullish confirmation for further upside towards 26,000,” said Jain.
According to Ponmudi R, CEO of Enrich Money, the index is now consolidating within a 25,300 – 25,500 range, and as long as it holds above 25,400 – 25,550, the near-term bias remains constructive.
“A decisive close above 25,550 could trigger an upward move toward 25,700 – 26,000, with the upper wedge boundary near 26,300 serving as a potential breakout target. The RSI at 49.16 reflects neutral momentum but hints at room for recovery, suggesting that any dip may find buyers at lower levels. Overall, the broader trend continues to favor the bulls, with strong buying interest expected on declines toward support zones — especially as traders position themselves ahead of the mid-month expiry,” said Ponmudi R.
Mayank Jain, Market Analyst, Share.Market said that the Nifty 50’s technical outlook highlights crucial resistance near 25,700 – 25,800, with continued downside support at 25,300.
Bank Nifty Prediction
Bank Nifty index ended 322.55 points, or 0.56%, higher at 57,876.80 on Friday, forming a bullish engulfing candlestick pattern on the daily chart, indicating strength. For the week, the Bank Nifty index gained 0.17%.
“The Bank Nifty-to-Nifty ratio chart has climbed to a 68-day high, highlighting robust relative momentum. The ratio continues to form higher highs and higher lows — a classic indicator of sectoral dominance and sustained buying interest in leading banking names. Technically, the index remains comfortably positioned above its key moving averages, reflecting a firm bullish undertone. The daily RSI has once again moved above the 60 level and is trending upward, suggesting that momentum is picking up after a brief consolidation phase,” said Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities.
Looking ahead, the 20-day EMA zone around 57,500 – 57,400 is expected to act as a crucial support area, providing a cushion against any short-term pullbacks. On the upside, the 58,200 – 58,300 band stands out as a key resistance zone, he added.
“A strong close above 58,300 could trigger the next leg of the rally, potentially lifting the Bank Nifty index towards 59,000 and further to 59,600 in the near term. Overall, as long as continues to hold its short-term supports and maintain leadership on the ratio chart, the broader market sentiment is likely to stay constructive — with banking stocks once again leading the uptrend,” said Shah.
Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment Intermediates Ltd said that as long as the Bank Nifty index holds above 57,150 levels, traders are advised to adopt a buy-on-dips strategy.
“On the upside, 58,300 and 58,580 will act as resistance points for the index. Therefore, traders are advised to adopt a buy near support and sell near resistance levels mentioned above,” said Yedve.
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.