Indian equity indices Sensex and Nifty 50 are expected to open lower on Tuesday, mirroring weakness in global markets ahead of the US Federal Reserve meeting. Gift Nifty trends also point to a negative start, trading near 25,956 — about 108 points below the previous Nifty futures close.
On Monday, markets witnessed broad-based selling, dragging the Nifty 50 below 26,000. The Sensex fell 609.68 points (0.71%) to 85,102.69, while the Nifty 50 slipped 225.90 points (0.86%) to 25,960.55.
Sensex Outlook:
Analysts noted that the Sensex closed below its 20-day SMA, signalling weakness. As long as it stays under 85,400, downside pressure may persist toward 84,800 or even 84,500. A move above 85,400 could trigger a rebound to 85,700–85,800. Resistance is seen at 85,500–85,600, with support around 84,600–84,500.
Nifty OI Trends:
Heavy call writing at 26,200–26,300 indicates stiff resistance, while cooling put positions below 26,000 reflect fragile downside support.
Nifty 50 View:
The index formed a strong bearish candle and slipped below its 21-DMA. Analysts expect consolidation between 25,800 and 26,200. A breach of 25,890 could deepen selling, with major support at 25,500–25,300 and resistance at 26,200–26,325.
Bank Nifty:
After closing lower at 59,238.55, the index shows weakness. Key support lies at 59,000–58,900, with further downside possible to 58,700–58,500. Resistance remains at 59,400–59,500, with a cautious near-term bias.
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