Nifty 50 and Sensex: What to Expect from the Market Today as Volatility Looms

The Indian stock market, including Sensex and Nifty 50, is expected to open flat on Wednesday, influenced by mixed global market signals. Gift Nifty trends suggest a weak start, trading around the 25,925 level, 20 points lower than the Nifty futures’ last close.

On Tuesday, the markets hit record highs but ended almost flat. Sensex fell slightly by 14.57 points to 84,914.04, while Nifty 50 inched up just 1.35 points to 25,940.40, forming a small positive candle on the daily chart.

Nifty 50 Outlook:

Nagaraj Shetti, a Senior Technical Analyst at HDFC Securities, noted that Nifty 50 shows signs of taking a break after its sharp rise. If the index stays below 26,000, it may consolidate or dip slightly in the next couple of sessions.

Rupak De from LKP Securities stated that Nifty 50 remains positive in the short term, but for the rally to continue, it must break above the 26,000 mark. Until then, expect it to move between 25,800 and 26,000.

VLA Ambala, Co-Founder of Stock Market Today, suggested using market dips as buying opportunities, with Nifty expected to find support at 25,820-25,890 and resistance between 26,070-26,125.

Dr. Praveen Dwarakanath from Hedged.in mentioned that Nifty 50 faces strong resistance at 26,000, as shown by options data. The index could hover around this level, with key support at 25,500.

Bank Nifty Outlook:

Bank Nifty underperformed on Tuesday, falling 137.20 points to 53,968.60 and forming a bearish pattern. Dr. Praveen Dwarakanath noted that Bank Nifty is showing signs of a slowdown and possible reversal, with momentum indicators in the overbought zone.

He warned that breaking the 53,700 level could push Bank Nifty down to 53,000 or even 52,200. Strong resistance is seen at 54,000, with any short covering above this level likely to trigger a significant drop in the index.