The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Friday, tracking upbeat global market cues.

The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 24,885 level, a premium of nearly 57 points from the Nifty futures’ previous close.

On Thursday, the equity market ended marginally higher, with the benchmark Nifty 50 closing above 24,700 level.

The Sensex rose 150.30 points, or 0.19%, to close at 80,718.01, while the Nifty 50 settled 19.25 points, or 0.08%, higher at 24,734.30.

Here’s what to expect from Sensex, Nifty 50, and Bank Nifty today:

Sensex Prediction

Sensex has formed a bearish candle on the daily charts which indicates further weakness from the current levels.

“We are of the view that the short-term market outlook remains positive; however, a fresh uptrend rally is possible only after crossing the 81,000 level. Above this, Sensex could move up to 81,500. Further upside may also continue, potentially lifting the index up to 81,800,” said Shrikant Chouhan, Head – Equity Research, Kotak Securities.

On the downside, he notes that 80,500 and 80,300 are key support zones for day traders, and if Sensex falls below 80,300, the uptrend could become vulnerable.

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In the derivatives segment, the highest Nifty Call Open Interest (OI) was recorded at the 24,800 strike, while the highest Put Open Interest was concentrated at the 24,600 strike. This setup suggests firm resistance near 24,800, with a sustained close above this level crucial to revive bullish momentum, said Amruta Shinde, Technical & Derivative Analyst at Choice Equity Broking.

Nifty 50 Prediction

Nifty 50 formed a long negative candle on the daily chart after opening higher, indicating a formation of bearish ‘meeting line’ type candle pattern.

“Nifty 50 encountered strong resistance around the 25,000 mark (upper end of last weekly bear candle and down sloping trend line). The recent bounce back in Nifty seems to have hit the hurdle and the present market action indicates some more consolidation or weakness ahead,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

According to him, the important lower supports to be watched are around 24,550 and next 24,400 levels for the next few sessions, and a decisive move only above 25,000 mark could open more short covering in the market.

Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment Interrmediates Ltd. highlighted that the Nifty 50 formed a bearish Marubozu candle on the daily chart, indicating weakness.

“In the near term, trend line resistance is placed around 25,000 levels, which will act as a strong hurdle, while major support is seen near 24,500 and 24,340 levels. Thus, short term traders are advised to buy near support and sell near resistance in the short term,” Yedve said.

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Sudeep Shah, Head – Technical Research and Derivatives at SBI Securities said that the zone of 24,630 – 24,600 will act as immediate support for the Nifty 50 index.

“If the Nifty 50 index slips below the 24,600 level, then the next crucial support is placed at the 24,450 level. While, on the upside, the zone of 24,850 – 24,880 will act as a crucial hurdle for the index,” Shah said.

Bank Nifty Prediction

Bank Nifty index ended 7.90 points, or 0.01%, higher at 54,075.45 on Thursday, forming a bear candle, signaling consolidation as it failed to generate a follow through to previous sessions pullback.

“Bank Nifty index formed a candle with long upper and lower shadows, reflecting intraday rejection near the VWAP at 54,165 and leaving the recovery attempt inconclusive. The index continues to remain below all short-term moving averages, keeping the immediate trend tilted to the weaker side. On the broader timeframe, the index is still protecting the recent swing lows, 53,560,” said Om Mehra, Technical Research Analyst, SAMCO Securities.

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On the higher side, he believes, sustaining above 54,550 would be essential to lend strength and open the path for a sustained uptrend.

“The RSI at 37 reflects muted momentum. The resistance remains at 54,550 – 54,620, where short-term averages converge, whereas support is placed at 53,600 – 53,480. Unless Nifty Bank decisively reclaims 54,900, the overall outlook is expected to stay tilted toward consolidation with limited directional move,” Mehra said.

Bajaj Broking Research said that the Bank Nifty index is seen consolidating around the 200 days EMA.

“Overall, we expect the Bank Nifty index to extend consolidation in the range 53,300 – 55,000 in the coming sessions. Bank Nifty has immediate support at 53,500 – 53,300 levels being the confluence of the 200 days EMA and the low of May 2025. A breach below the same will signal acceleration of decline towards the key support area of 52,500 – 52,000 levels in the coming week,” said the brokerage firm.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.