Indian markets are expected to open flat on Tuesday as global cues remain unclear. The Gift Nifty traded near the 25,036 mark, reflecting only a modest premium of around 1 point from Monday’s close — a clear sign that investors are trading cautiously at the open.
Recap: Monday's Market Mood
The week began on a positive note for Indian equities.
Nifty 50 surged by 148 points (0.60%) to close just above the psychological 25,000 level, ending at 25,001.15.
Sensex climbed 455 points (0.56%) to close at 82,176.45.
This was more than just an increase in figures; it represented reinvigorated sentiment and bullish strength in the market.
Sensex Outlook: Bulls Still in Control
A bullish candle has been recorded on the Sensex chart which suggests scope for more growth. Analysts suggest paying attention to the following levels:
Support: 81,900
Resistance: 82,500 – 82,800
Should the index fall below 81,900, it might encounter selling pressure and subsequently decline towards 81,600–81,500. However, staying above 81,900 would likely allow the bulls to maintain their grip.
Nifty 50 Forecast: Eye on Breakout Levels
The Nifty 50 has decisively broken above the key 25,000 resistance, exiting its prior consolidation range of 24,500–25,000.
Resistance Levels: 25,180 – 25,207 (key Fibonacci retracement and extension zones)
Support Range: 24,800 – 24,900
Technical indicators are mixed but lean positive. The RSI remains firm at 61, suggesting there’s still room for an upward move without entering overbought territory. A clear break above 25,200 could lead to a target zone around 25,700.
"The Nifty is indicating a breakout — the Bollinger Bands are expanding, and momentum oscillators are increasing," said Dr. Praveen Dwarakanath of Hedged.in.
Even if a minor correction occurs, market experts like VLA Ambala consider the 24,850 level a solid support. If there’s an early gap-up, it may propel the index into a fresh bullish wave toward 25,180–25,300.
Bank Nifty: Consolidation with an Upward Bias
On Monday, Bank Nifty closed at 55,572, up 173.75 points, forming a high wave candle — typically signaling indecision within an uptrend.
Resistance Zone: 56,000 – 56,100
Support Levels: 54,800 (immediate), 54,000 – 53,500 (major)
According to Bajaj Broking, the index is testing the upper boundary of a 4-week consolidation pattern. A breakout above 56,000 could trigger upward targets between 56,700–57,500.
"A modest pullback and a firm base above the 20-day EMA are positives. The bulls have a good hold as long as Bank Nifty remains above 54,720," said Hrishikesh Yedve of Asit C. Mehta Investment.
Last Takeaway
Markets are at a pivotal juncture. After Monday's robust rally, the stage is set for either a new breakout or further sideways movement. Key resistance levels to watch include:
Nifty Resistance: 25,180–25,207
Sensex Resistance: 82,500–82,800
Bank Nifty Breakout Level: 56,000
Unless global developments provide a sharp trigger, expect a flat start to the day, with a possibility of upward movement if the critical resistance zones are breached.
Disclaimer: This blog represents the views of market experts and is intended for educational purposes only. Please consult a certified financial advisor before making investment decisions.
