Nifty 50 and Sensex Set for a Cautious Start on September 2: What to Expect in Today’s Trade

The Indian stock market’s main indices, Sensex and Nifty 50, are likely to start off quietly on September 2, influenced by mixed signals from global markets. Early indicators show that Nifty might open flat.

On Friday, the Nifty 50 reached a new record high, closing up by 83.95 points at 25,235.90, while the Sensex added 231.16 points to finish at 82,365.77. However, the Nifty 50 chart showed a small negative candle, which could suggest a potential trend reversal, though recent patterns like this have not led to significant drops.

Experts believe the short-term trend for Nifty remains positive, but the market may see some consolidation or a minor dip around the 25,300 – 25,400 resistance levels.

Nifty 50 Outlook:

The Nifty 50 index has continued its upward movement, but analysts caution that if the index drops below 25,000, it could see a significant correction. If it stays above this level, it may climb to 25,500 soon.

Bank Nifty Outlook:

Bank Nifty closed higher on Friday, but formed a bearish pattern. It has been lagging behind Nifty and needs to break above 51,800 to show real strength. The index has support at 50,800 and could rise to 53,500 or 55,000 if it holds this level. However, if it falls below 51,000, it could drop further to around 50,500.

Analysts suggest caution as the market is currently overbought, which could lead to a correction in the coming months.