Nifty 50 and Sensex Outlook for October 15: What to Expect from the Indian Stock Market

The Indian stock market is expected to have a quiet start on Tuesday, October 15, with the Sensex and Nifty 50 showing mixed signals from global markets.

The trends on the GIFT Nifty indicate a flat opening for Indian indices, trading around the 25,240 level, just 5 points above the previous Nifty futures close.

On Monday, Indian stocks ended positively, with the Nifty 50 bouncing back above the 25,100 mark. The Sensex climbed by 591.69 points, closing at 81,973.05, while the Nifty 50 rose by 163.70 points, or 0.66%, finishing at 25,127.95.

The Nifty 50 formed a long bullish candle on its daily chart, suggesting a potential upward breakout after a period of limited movement. Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, noted that the Nifty has been moving between a high-low range of 25,200 and 24,700. If it breaks above 25,200, it could rise towards the next resistance levels of 25,500 to 25,600 in the near future.

Nifty 50 Expectations:

After the Nifty 50’s recent upswing, analysts predict continued positive momentum. Rupak De from LKP Securities mentioned that the index has shown signs of optimism, potentially pushing it towards levels of 25,350 or 25,400. Support is expected at 24,900.

Jatin Gedia from Sharekhan noted that after a brief pause, the Nifty is back on track to reach 25,500, with buy signals indicating strong momentum. He sees potential for the index to move towards 25,234 to 25,360, with support rising to 24,920.

VLA Ambala from Stock Market Today highlighted that the Nifty’s RSI is showing bullish patterns, predicting support around 25,080 and 25,000, while resistance could be at 25,210 and 25,300.

Bank Nifty Expectations:

The Bank Nifty performed well, closing up 644.60 points, or 1.26%, at 51,816.90, forming a bullish candle on its daily chart. Jatin Gedia mentioned that the Bank Nifty has broken out of a three-day consolidation and is targeting 52,500, supported by a strong foundation around 51,400 to 51,500.

Chandan Taparia from MOFSL stated that the Bank Nifty has shown bullish signs and needs to maintain its position above 51,500 for potential gains towards 52,350 and 52,500. Support levels are identified at 51,500 and 51,250.