What to Expect in Indian Stock Market on Oct 11: Nifty 50 and Bank Nifty Predictions Amid Mixed Global Cues

The Indian stock market, including the Sensex and Nifty 50, is expected to open on a cautious note on Friday, tracking mixed global market trends. The Gift Nifty indicates a weak start, trading around 25,090, which is 30 points lower than Nifty futures’ previous close.

On Thursday, the Indian stock market closed with small gains. The Sensex rose by 144.31 points to close at 81,611.41, and the Nifty 50 added 16.50 points, ending at 24,998.45. Nifty 50 formed a small negative candle with a minor upper shadow on the daily chart, indicating range-bound movement between 24,950 and 25,150.

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What Analysts Say:

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said the market could turn negative if Nifty drops below 24,700. However, if it rises above 25,250-25,300, a new rally could push it to 25,500-25,600 in the near term.

Nifty 50 Outlook:

The Nifty 50 is stuck in a narrow range. If it falls below 24,900, it may drop further to 24,700. On the other hand, if it breaks above 25,150, it could rise to 25,350-25,400.

Bank Nifty Outlook:

The Bank Nifty outperformed Nifty 50 on Thursday, rising by 523.90 points to 51,530.90. Momentum indicators suggest a possible rise, but resistance at 51,700 remains strong, showing that weakness may still persist.

Experts recommend caution and suggest a neutral or “sell on rise” strategy until market prices stabilize.