Indian Stock Market May Bounce Back: What to Expect from Sensex, Nifty 50, and Bank Nifty Today

The Indian stock market is expected to open higher today, following positive trends in global markets. The Sensex and Nifty 50 are likely to bounce back after four sessions of losses, driven by gains in US peers and calming tech jitters. But what does this mean for investors, and how can you make the most of this potential turnaround?

Market Overview

The Sensex and Nifty 50 extended their losing streak for the fourth session, ending largely flat with a mild negative bias on Thursday. The Sensex slipped 78 points to close at 84,481.81, while the Nifty 50 eased 3 points to finish at 25,815.55. Market breadth remained mixed, with the BSE Midcap index inching up 0.05%, even as the Smallcap index declined 0.28%.

Sensex Prediction

The benchmark Sensex is currently stuck in a tight range, with no strong intraday cues. Analysts believe that the index is waiting for a breakout on either side, with 84,800 remaining the immediate hurdle for the bulls. If it manages to trade above this level, it could move up to 85,000–85,300. On the downside, critical support areas are 84,300 and 84,100, with selling pressure likely to accelerate below 84,100.

Nifty 50 Prediction

The Nifty 50 could witness a sharp move soon, with the index slipping below key moving averages and repeatedly testing crucial support levels. Analysts warn that the next few sessions may determine whether a rebound emerges or a deeper correction unfolds. The pivotal support is around the 25,750–25,700 zone, with a breakdown below this level likely to disrupt the outlook and aggravate fresh shorts.

Bank Nifty Prediction

The Bank Nifty struggled for direction on Thursday, remaining trapped in a tight consolidation range. Technical indicators point to persistent caution in the near term, with the index forming an inverted hammer candle on the daily chart. If the index holds the inverted hammer low of 58,712, short-term relief may emerge, but a firm break below 58,712 could extend weakness toward the 58,450–58,000 levels.

Key Takeaways

• The Indian stock market is expected to open higher today, driven by positive trends in global markets.
• The Sensex and Nifty 50 are likely to bounce back after four sessions of losses.
• Analysts believe that the index is waiting for a breakout on either side, with critical support areas at 84,300 and 84,100.
• The Nifty 50 could witness a sharp move soon, with the index slipping below key moving averages and repeatedly testing crucial support levels.
• The Bank Nifty struggled for direction on Thursday, remaining trapped in a tight consolidation range.

Remember, this is a perspective, not a prediction. It's essential to do your own research and consult with certified experts before making any investment decisions.