Sensex and Nifty will resume trading today after a long weekend, and is expected to open lower, tracking US markets which fell on Monday.
Market experts believe that the early days of April 2025 will be important for investors due to several key events lined up this month.
With no major domestic triggers at the moment, investors will focus on global factors, including the impact of reciprocal tariffs set to take effect from April 2. Analysts will also keep an eye on economic data releases that could provide insights into manufacturing, employment trends, and overall economic activity.
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“Early April 2025 will be critical for market sentiment, with key economic data releases providing insights into global manufacturing, employment trends, and economic activity,” said Bajaj Broking Research.
In the early hours, GIFT Nifty traded lower by 192 points, or 0.81%, at 23,445 compared to Friday’s Nifty Futures close. This suggests that Dalal Street may see a negative opening today.
Wall Street had a mixed closing on Monday, as investors remained cautious amid economic uncertainties. The S&P 500 and the Nasdaq Composite recorded their worst quarterly performances since 2022. Dow Jones closed 1% higher, S&P 500 gained 0.55%, and Nasdaq Composite fell 0.14%.
WHAT TO EXPECT FROM NIFTY AND SENSEX TODAY?
According to market experts, Nifty formed a gravestone doji candlestick pattern on the weekly chart, signalling a possible negative trend if it closes below 23,390. The 23,350 to 23,400 range will be a key zone to watch for market movements this week.
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For intraday trading, Nifty is expected to find support near 23,415 and 23,300, while resistance is likely around 23,600 and 23,670. However, any major gap-up or gap-down opening after the long weekend could affect trading patterns.
Similarly, Sensex is also showing signs of weakness on the weekly chart. The index is hovering close to its 20-week moving average, which will act as a key support level. If Sensex breaks below 77,000, selling pressure could increase. On the upside, a breakout above 78,600 would indicate a bullish move.
For now, Sensex is expected to trade within a 1,700-point consolidation range this week. The index may find support between 77,100 and 76,650, while resistance could be seen near 78,001 and 78,850.
Traders are advised to keep a close watch on these levels as markets adjust to global developments and the beginning of a new financial year.
(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)
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