Indian stock market benchmarks Sensex and Nifty 50 are expected to open higher on Monday, tracking strong global cues amid progress in the US-China trade negotiations. Gift Nifty trends also suggest a gap-up opening, trading near 25,914 — about 100 points above the Nifty futures’ previous close.
On Friday, Indian markets halted their six-day winning streak due to profit booking. The Sensex slipped 344.52 points, or 0.41%, to 84,211.88, while the Nifty 50 declined 96.25 points, or 0.37%, to 25,795.15.
Sensex Outlook:
After hitting 85,290, the Sensex witnessed mild profit booking. Analysts believe key support lies between 83,350–83,250, while resistance stands at 84,500–84,800. A close above this zone could push it toward its record high of 85,978. The overall structure remains positive above 84,000.
Nifty 50 Outlook:
Nifty formed a bearish candle on the daily chart, signaling a short-term correction within an ongoing uptrend. The near-term outlook remains constructive despite some selling pressure.
Bank Nifty Outlook:
Bank Nifty closed at 57,699.60, forming a red candle. Support is seen around 57,000–56,900, and resistance near 58,200–58,300. A breakout above 58,300 could trigger a rally toward 59,000–59,500.
