Indian Stock Market on Thin Ice: 3 Key Indices to Watch for a Potential 5% Rally

The Indian stock market is at a critical juncture, with the Sensex and Nifty 50 indices poised for a potentially decisive move. After three straight sessions of losses, the market is waiting with bated breath to see if the indices will stabilize or slip into a deeper corrective pattern.

Market Overview

The Sensex and Nifty 50 indices are likely to open flat but in the red on Thursday, following weak trends in the global markets. The Gift Nifty is trading near the 25,871 level, down 15 points or 0.06% from the Nifty futures’ previous close.

Sensex Prediction

The Sensex has been drifting lower, and market analysts believe that the current consolidation phase may soon give way to a sharper move. The index is approaching key technical levels that could shape its near-term trajectory. According to analysts, a bearish candle on the daily chart and a lower-top structure on intraday charts signal pressure building on the upside.

• The index may face resistance near 84,900 and reverse sharply if it fails to sustain early gains.
• A break below 84,300 could extend the weakness towards 84,000–83,800.
• A move above 84,900 could lift sentiment and push the index to 85,200–85,400.

Nifty 50 Prediction

The Nifty 50 remained range-bound on Wednesday, with technical indicators pointing to an impending shift in trend. Analysts caution that global developments and currency volatility may steer market direction in the coming sessions.

• The index is currently trading between its 20-day and 50-day EMAs, which are converging—a signal that the next move could be decisive.
• Immediate support lies at 25,750–25,700, aligned with the 50 DEMA and last week’s lows.
• A breakdown below this level could disrupt the near-term structure.

Bank Nifty Prediction

The Bank Nifty may be heading into a crucial phase as technical indicators point to a narrowing range that could soon trigger a sharper directional move. With the index slipping closer to key support levels, analysts believe the next few sessions could determine whether the market stabilises or enters a deeper corrective cycle.

• The index struggled to hold early levels as selling pressure intensified through the day.
• If the index manages to hold the 58,800 level, then short-term relief might be possible.
• A firm break below 58,800 could extend the weakness towards the 58,500–58,000 levels.

Remember, this is a perspective, not a prediction. Do your own research and consult with certified experts before making any investment decisions.