Indian stock markets are gearing up for a cautious start this Monday, with benchmark indices Sensex and Nifty 50 expected to open flat amid weak global cues and persistent consolidation. Gift Nifty trends point to a muted opening, reflecting the uncertainty that has gripped traders over the past week.
On Friday, both indices slipped, with the Sensex closing 182 points lower at 81,451.01 and the Nifty 50 ending below the 24,800 mark at 24,750.70. This capped off a week of sideways movement, as both indices struggled to find clear direction amid mixed global signals and lackluster sectoral performance.
Technical indicators suggest that the Sensex is currently sandwiched between key support at 80,900 and resistance at 82,200. Unless the index breaks decisively out of this band, market action is likely to remain range-bound. A move above 82,200 could trigger a rally toward 82,900 or even 83,700, while a fall below 80,900 may see the index testing 80,300 or lower.
Nifty 50, meanwhile, is consolidating between 24,500 and 25,000, with the index hovering near the middle of this range. The broader trend remains bullish, but a sustained breakout above 25,000 is needed to ignite the next leg higher. Until then, traders can expect choppy moves and limited upside.
Bank Nifty has shown some resilience, closing the week above 55,700. The index is testing the upper end of its consolidation range, and a move above 56,100 could set the stage for a sharp rally toward 57,000. Support levels at 55,000 and 54,500 offer dip-buying opportunities.
