Indian Markets Eye Negative Start on Monday
The Indian stock market appears headed for a negative opening on Monday. Both benchmark indices, Sensex and Nifty 50, are likely to open lower. This follows weak cues from global markets. The downturn comes after recent tariff threats from former US President Donald Trump against Europe over Greenland.
Gift Nifty Signals Gap-Down Opening
Trends on Gift Nifty point toward a gap-down start for Indian indices. The Gift Nifty was trading around the 25,571 level. This represents a discount of nearly 180 points from the previous close of Nifty futures.
On Friday, the market had ended higher. The Nifty 50 closed near the 25,700 level. The Sensex rose 187.64 points, or 0.23%, to finish at 83,570.35. The Nifty 50 gained 28.75 points, or 0.11%, settling at 25,694.35.
Analyst Views on Sensex and Nifty 50
Market experts have shared their predictions for the key indices. They highlight important support and resistance levels.
Sensex Outlook: Mayank Jain from Share.Market notes significant Open Interest at the 83,500 Put option. This level acts as a key psychological support. The 84,000 Call option holds the highest Open Interest in the weekly chain, making it a crucial ceiling. Bulls need to reclaim the 84,000 level to regain control.
Hitesh Tailor of Choice Broking observes that Sensex remained flat last week. It formed a Doji pattern on the weekly chart, indicating indecision. The index held firmly above the 83,000–83,100 support zone. On the upside, the 84,000–84,100 band remains a key near-term hurdle. Tailor believes the market bias stays slightly positive with a defensive tone.
Nifty 50 Analysis: Nagaraj Shetti from HDFC Securities points out that Nifty 50 gained just 0.04% last week. It also formed a Doji candle, highlighting growing indecision. A small red candle with a long upper shadow appeared on the daily chart. This pattern suggests weak inherent strength to sustain highs. The index currently trades between 25,900–26,000 at highs and 25,500 at lows.
Nilesh Jain of Centrum Broking notes that momentum indicators have turned bearish on weekly charts. The MACD shows a sell crossover. The 100-DMA near 25,570 offers immediate support, while the 50-DMA around 26,960 acts as key resistance. Jain expects a consolidation phase with possible distribution at higher levels.
Ponmudi R from Enrich Money discusses derivative positioning. Call writing concentrates at higher strikes near 26,000, creating an overhead supply zone. Put writing has strengthened around 25,500, indicating selective hedging. Cumulative Put Open Interest stands near 14.96 crore versus Call Open Interest of 20.22 crore. This suggests a range-bound setup with a mildly positive bias.
Bank Nifty Shows Strength
Bank Nifty jumped 515 points, or 0.86%, to close at 60,095.15 on Friday. For the week, it rallied 1.42%. The index formed a bullish candle with a small lower wick on the weekly chart. This signals continued buying interest during declines.
Dr. Ravi Singh from Master Capital Services Ltd. notes that Bank Nifty tested its 21-day EMA and staged a sharp rebound. It trades in a bullish channel above its previous breakout zone. Support from PSU banking stocks adds to the strength. The 59,500–59,600 zone remains crucial support. A buy-on-dips strategy stays favorable above this band. The 60,400–60,500 zone near record highs acts as key resistance.
Sudeep Shah of SBI Securities highlights that the Bank Nifty–Nifty ratio hit a fresh 132-week high. This underscores sustained outperformance. The index remains in a well-defined uptrend above key moving averages. Momentum indicators stay supportive with the daily RSI above 60. A strong close above 60,500 could trigger a move toward 61,200. Immediate downside support lies in the 59,300–59,400 band.
Disclaimer: The views and recommendations above belong to individual analysts or broking firms. They do not represent Mint. Investors should consult certified experts before making investment decisions.
