The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open on a tepid note amid mixed cues from global markets.<\/p>\n
The trends on Gift Nifty also indicate a tepid start for the Indian benchmark index. The Gift Nifty was trading around 24,948 level, a discount of nearly 19 points from the Nifty futures\u2019 previous close.<\/p>\n
Indian financial markets were closed<\/a> on Thursday, October 2, on the account of Dussehra and Mahatma Gandhi Jayanti.<\/p>\n On Wednesday, the equity market ended sharply higher, snapping its eight-day losing streak, after the Reserve Bank of India\u2019s (RBI) monetary policy announcement.<\/p>\n The Sensex<\/a> rallied 715.69 points, or 0.89%, to close at 80,983.31, while the Nifty 50 settled 225.20 points, or 0.92%, to close at 24,836.30.<\/p>\n Also Read | Indian stock market: 7 key things that changed for market overnight<\/a><\/p>\n Here\u2019s what to expect from Sensex, Nifty 50, and Bank Nifty today:<\/p>\n Sensex Prediction<\/p>\n Immediate resistance for Sensex<\/a> is at 82,000 \u2013 82,200. A convincing move above this zone could propel the index higher. On the downside, support lies at 80,000 \u2013 79,800. A break below this zone could test the next support level at 79,500, said Om Ghawalkar, Market Analyst, Share.Market (PhonePe Wealth).<\/p>\n Nifty 50 Prediction<\/p>\n Nifty 50 formed a big bullish candle on the daily chart near the trend line support, signalling a short-term reversal.<\/p>\n \u201cA long bull candle has formed on the daily chart after the range bound action with weak bias of a few sessions. This indicates formation of a short-term bottom reversal pattern in the market. Nifty 50 has bounced back sharply from near the crucial support of around 24,500 – 24,400 levels (ascending trend line and 200day EMA). This is a positive indication,\u201d said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.<\/p>\n According to him, the larger degree higher tops and bottoms is in store as per daily and weekly timeframe chart and the recent swing low of 24,587 could now be considered as a new higher bottom of the sequence.<\/p>\n \u201cThe short-term trend of Nifty 50<\/a> has reversed up firmly with the formation of a near-term bottom reversal pattern. The next upside hurdles to be watched are around 25,000 and next 25,200 in the next one week. Immediate support is placed at 24,600 levels,\u201d Shetti said.<\/p>\n Also Read | Stock market today: Eight stocks to buy or sell on Friday\u20143 October 2025<\/a><\/p>\n Om Ghawalkar said that the immediate resistance for Nifty 50 is at 25,000 \u2013 25,100, and a convincing move above this level could propel the index toward 25,500.<\/p>\n \u201cOn the downside, support lies at 24,400 \u2013 24,500. A break below this zone could test the next support level at 24,000,\u201d said Ghawalkar.<\/p>\n Bank Nifty Prediction<\/p>\n Bank Nifty index surged 712.10 points, or 1.30%, to close at 55,347.95, forming a big bullish candle, reflecting strength.<\/p>\n \u201cThe trend line resistance for the Bank Nifty is placed near 55,700, which will act as the immediate hurdle, followed by 56,000. On the downside, major support is placed near 54,900, where the 100-DEMA is positioned. Thus, traders are advised to adopt a buy on dips strategy in Bank Nifty<\/a>,\u201d said Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment Interrmediates Ltd.<\/p>\n Bajaj Broking Research noted that the formation of a bullish Marubozu candle signals a strong and positive start to the month, underpinned by heavy buying interest in major private sector banks.<\/p>\n