The Indian stock market is expected to open on a positive note on Friday, supported by mixed but mildly favorable global cues. Early trends from the Gift Nifty signal a firm start, with the index trading around the 26,414 mark — nearly 24 points above the previous close of Nifty futures.
On Thursday, benchmark indices climbed to fresh intraday highs before closing slightly higher. The Nifty 50 ended above the 26,200 mark, while the Sensex continued its upward trend.
- Sensex closed at: 85,720.38 (+110.87 / +0.13%)
- Nifty 50 closed at: 26,215.55 (+10.25 / +0.04%)
Sensex Today: Key Levels and Trend
The Sensex touched a lifetime high of 86,055.86 during Thursday’s session. Analysts remain optimistic about the short-term outlook.
According to Shrikant Chouhan (Kotak Securities),:
Support zones: 85,500 and 85,200
Resistance zones: 86,000 – 86,300
As long as the index trades above 85,200, the bullish sentiment is expected to continue. However, a fall below the level may trigger unwinding of long positions.
Nifty 50 Today: Market Range and Momentum Indicators
Nifty 50 formed a small-bodied candle with wicks on both ends — indicating consolidation amid stock-specific movement. The index touched a record high of 26,310.45 during the previous session.
Experts say that the consolidation phase may continue briefly before the next upside swing.
Key levels to watch:
Immediate support: 26,100 – 26,050
Next upside target: 26,600
Centrum Broking’s Nilesh Jain believes the structure remains strong with room for an upward move towards 26,350, supported by:
- Fresh MACD buy signal on the daily chart
- RSI holding above 60
However, Jain recommends avoiding aggressive buying at higher levels and suggests waiting for dips for better risk-reward entry.
SBI Securities’ Sudeep Shah adds that 26,300 – 26,330 is a crucial hurdle; a sustained breakout above this zone may trigger a sharp rally toward 26,500. On the downside, 26,090 – 26,060 remains strong support.
Bank Nifty Forecast
The Bank Nifty index settled 209.25 points higher at 59,737.30, forming a bullish candle with a higher high and higher low — signaling continued positive momentum. The index also posted a new peak of 59,866.60 during intraday trade.
Key insights from analysts:
Hrishikesh Yedve (Asit C. Mehta Investment Intermediates)
- Support: 59,400
- Targets: 59,900 – 60,000
- Strategy: Buy on dips
Bajaj Broking Research
- Expects momentum to continue, possibly pushing the index toward 60,400 in the short term.
- A breakout above 60,400 could open the doors to 61,000.
- Support zone: 58,800 – 58,600
Disclaimer
The views mentioned above are from analysts and brokerage firms. Investors should seek advice from certified financial experts before making any investment or trading decisions.