The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to see a negative opening on Monday, tracking weak global market cues after US President Donald Trump’s latest tariff threats against Europe over Greenland.
The trends on Gift Nifty also indicate a gap-down start for the Indian benchmark index. The Gift Nifty was trading around 25,571 level, a discount of nearly 180 points from the Nifty futures’ previous close.
On Friday, the Indian stock market ended higher, with the benchmark Nifty 50 closing near 25,700 level.
The Sensex rose 187.64 points, or 0.23%, to close at 83,570.35, while the Nifty 50 settled 28.75 points, or 0.11%, higher at 25,694.35.
Here’s what to expect from Sensex, Nifty 50, and Bank Nifty today:
Sensex OI Data
The 83,500 PE holds significant Open Interest (OI), serving as a key psychological support level. The 84,000 CE currently has the highest OI in the weekly option chain, which increases its significance as a ceiling. Reclaiming the 84,000 level is essential for the bulls to regain control, said Mayank Jain, Market Analyst, Share.Market.
Sensex Prediction
Sensex remained flat last week and formed a Doji formation on the weekly chart, reflecting a balance of forces and continued indecision between buyers and sellers.
“Sensex held firmly above the 83,000 – 83,100 support zone, which acted as a strong intraday cushion during pullbacks. On the upside, the 84,000 – 84,100 resistance band remains the key near-term hurdle where selling pressure could emerge. As long as this crucial support range is maintained, the overall structure continues to favour a controlled buy-on-dips strategy,” said Hitesh Tailor, Technical Research Analyst, Choice Broking.
He believes market bias remains slightly positive with a defensive undertone, as indices are gradually edging higher while staying sensitive to broader macro developments and earnings-related cues.
Nifty OI Data
Derivative positioning indicates cautious optimism. Call writing remains concentrated at higher strikes, particularly near 26,000, acting as an overhead supply zone. At the same time, Put writing has strengthened around the 25,500 region, suggesting selective hedging rather than aggressive bearish positioning, said Ponmudi R, CEO – Enrich Money.
“Cumulative Put Open Interest stands near 14.96 crore, while Call Open Interest is around 20.22 crore, indicating a broadly range-bound setup with a mildly positive bias. Sustained price strength above key resistance levels could trigger short covering and improve near-term sentiment,” he added.
Nifty 50 Prediction
Nifty 50 gained 0.04% last week and formed a Doji candle on the weekly chart, highlighting growing indecision among market participants.
“A small red candle has formed on the daily chart with a long upper shadow. A similar candle pattern has been formed in the last couple of sessions, which indicates weak inherent strength in the market to sustain the highs. Nifty 50 is currently placed between the broader high low range of 25,900 – 26,000 at highs and 25,500 at the lows,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
Nifty 50, on the weekly chart, formed a small bull candle with upper and lower shadow.
“Technically, this market action signals formation of a high wave type candle pattern after a sharp weakness of previous week. This reflects ongoing volatility in the market. The underlying trend of Nifty 50 remains choppy. A sustainable move above 25,900 could open further upside for this week. However, a slide below the support of 25,500 could trigger more downside in the market ahead,” said Shetti.
According to Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research), Centrum Broking Ltd, momentum indicators and oscillators have turned bearish on the weekly chart, with the MACD generating a sell crossover.
“The 100-DMA, placed around 25,570, is expected to act as an immediate support, while the 50-DMA near 26,960 remains a key resistance zone. In the near term, the market is likely to remain in a consolidation phase, with signs of distribution emerging at higher levels. However, a decisive move above 26,000 could trigger a short-covering rally, indicating the possibility of a short-term bottom formation,” said Jain.
Bank Nifty Prediction
Bank Nifty jumped 515.00 points, or 0.86%, to close at 60,095.15 on Friday. For the week, the index rallied 1.42%, and formed a bullish candle with a small lower wick on the weekly chart, signalling continued buying interest on declines.
“Bank Nifty index recently tested its 21-day EMA and staged a sharp rebound, reaffirming the strength of the short-term trend. It is also trading in a bullish channel above its previous breakout zone, which further reinforces the underlying bias. Supportive participation from PSU banking stocks has added to the overall strength,” said Dr. Ravi Singh, Chief Research Officer from Master Capital Services Ltd.
Going ahead, he believes the 59,500 – 59,600 zone remains a crucial support area, and as long as the Bank Nifty index sustains above this band, a buy-on-dips strategy remains favourable.
“On the upside, the 60,400 – 60,500 zone, positioned near record highs, acts as a key resistance, with a sustained breakout potentially opening the path toward 61,000,” said Singh.
Sudeep Shah, Head- Technical and Derivatives Research at SBI Securities, noted that the Bank Nifty–Nifty ratio has moved to a fresh 132-week high, clearly highlighting the ongoing phase of sustained outperformance.
“Technically, the Bank Nifty index remains in a well-defined uptrend, comfortably trading above its key moving averages. Momentum indicators also remain supportive, with the daily RSI holding above the 60 mark and trending higher. The 60,400 – 60,500 zone is expected to emerge as a key resistance area. A strong close above 60,500 may open the door for a swift move toward 61,200, with further upside potential toward 62,000 in the near term,” said Shah.
On the downside, immediate support is placed in the 59,300 – 59,400 band, he added.
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.