The Indian stock market is expected to open flat on Monday, reflecting mixed global cues. Gift Nifty trends suggest a mildly positive start, trading around 25,614, about 24 points above Nifty futures’ previous close. On Friday, markets ended lower for the third straight session, with the Sensex down 94.73 points at 83,216.28 and the Nifty 50 slipping 17.40 points to 25,492.30.
Technically, Sensex formed a bullish hammer near its 50-day EMA at 82,700, signaling buying interest. Analysts see key support between 82,600–82,700 and resistance around 83,800–83,900, with a breakout above 83,900 potentially leading to 85,000.
For Nifty 50, strong support lies at 25,300–25,400, while resistance is around 25,700–25,800. The index remains in a buy-on-dips phase as long as it stays above 25,160, with potential upside toward 26,000.
Bank Nifty ended 322 points higher at 57,876.80, showing bullish momentum. Support is seen at 57,400–57,500, and resistance near 58,200–58,300. A close above 58,300 could drive gains toward 59,000, keeping banking stocks at the forefront of market strength.
