The Indian stock market is expected to open lower on Tuesday, tracking weakness in global markets, and ahead of the levy of US tariffs on India.

The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 24,905 level, a discount of nearly 85 points from the Nifty futures’ previous close.

On Monday, the equity market ended higher, with the benchmark Nifty 50 holding above the 24,900 level.

The Sensex rose 329.06 points, or 0.40%, to close at 81,635.91, while the Nifty 50 settled 97.65 points, or 0.39%, lower at 24,967.75.

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

Sensex Prediction

Sensex formed an inside body candle on daily charts, indicating indecisiveness between bulls and bears.

“We believe that the intraday market texture is non-directional; hence, level-based trading would be an ideal strategy for day traders. For the bulls, the 81,800 level will be the immediate breakout point. A successful breakout above 81,800 could push Sensex towards 82,300 – 82,500. On the other hand, 81,400 – 81,300 would act as key support zones for day trades,” said Shrikant Chouhan, Head Equity Research, Kotak Securities.

Below 81,300 level, he believes the chances of hitting 81,000 – 80,800 increase significantly.

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In the options segment, the highest Nifty Call OI (Open Interest) is placed at 25,200 and 25,500, marking key resistance zones, while the highest Put OI is seen at 24,900 and 24,800, highlighting strong support levels.

“The combined technical and derivatives setup suggests that the market bias remains cautiously bullish. A decisive close above 25,100 could trigger fresh upside momentum. Traders are advised to stay cautiously long, use declines to accumulate quality stocks, and protect positions with strict stop-losses,” said Mandar Bhojane, Sr Technical & Derivative Analyst at Choice Broking.

Nifty 50 Prediction

Nifty 50 formed a modest green candle that reflects consolidation with a positive tilt.

“A small positive candle was formed on the daily chart with minor upper and lower shadow (Inside day type candle pattern). This market action indicates an absence of follow-through selling in the market after a sharp weakness of Friday. This is a positive indication,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

The opening upside gap of 18th August remains unfilled after six sessions of its formation. This bullish breakaway gap indicates more upside for the Nifty 50 in the near term. Hence, the next upside target to be watched around 25,200 – 25,300 in the near term. Immediate support is placed at 24,800, he added.

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Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research), Centrum Broking Ltd noted that the markets staged a sharp rebound as the Nifty 50 index formed a small-bodied bullish candle with both upper and lower shadows.

“However, Nifty 50 encountered strong resistance at the 50-DMA, positioned at 25,020. A decisive move above this level will be crucial to extend the momentum towards 25,200. On the downside, immediate support is placed at 24,860. While momentum indicators continue to remain in buy mode, some consolidation is likely before the index attempts another leg higher,” said Jain.

Om Ghawalkar, Market Analyst, Share.Market said that Nifty 50 has immediate support at 24,860 and deeper support at 24,700, with resistance at 25,070 and 25,250.

“As long as Nifty 50 holds above 24,860, buying on dips remains favorable, though expect some volatility as global and earnings cues continue to play out,” said Ghawalkar.

Bank Nifty Prediction

Bank Nifty ended 10.10 points, or 0.02%, lower at 55,139.30 on Monday, forming a doji candle with a lower high and lower low, signaling consolidation around the 55,000 levels.

“The Bank Nifty has been underperforming the frontline indices over the past couple of sessions. On Monday, it closed flat and formed a Doji candlestick pattern on the daily chart, signalling indecision among market participants. Going ahead, the support zone of 54,900 – 54,800 will be crucial. A sustained move below 54,800 could trigger further downside towards 54,400,” said Sudeep Shah, Head – Technical Research and Derivatives at SBI Securities.

On the upside, the resistance zone of 55,300 – 55,400 will act as a key hurdle for any recovery attempt, he added.

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Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment Intermediates Ltd. highlighted that the Bank Nifty formed a doji candle on the daily scale near its 100-DEMA support, reflecting buying interest near the demand zone.

“Immediate support is placed at 55,030, followed by 54,900, where a multiple support base is located. On the upside, the 55,950 – 56,160 zone will act as a key resistance area in the near term. Hence, traders are advised to remain cautious in Bank Nifty and wait for confirmation of a bullish reversal before taking fresh positions,” said Yedve.

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.