The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open with significant losses on Monday, following weak global markets as crude oil prices surged past $100 a barrel.
The trends on Gift Nifty also indicate a gap-down start for the Indian benchmark index. The Gift Nifty was trading around 23,800 level, a discount of nearly 745 points from the Nifty futures’ previous close.
The escalating US-Iran war led to a spike in crude oil prices on fears of tighter supply and prolonged disruptions to shipments through the Strait of Hormuz. Crude oil prices hit their highest since July 2022.
Brent crude oil price jumped 19.81% to $111.05 a barrel, while the US West Texas Intermediate (WTI) crude futures spiked 22.26% to $111.13.
On Friday, the Indian stock market ended sharply lower amid the ongoing US-Iran war, with the benchmark Nifty 50 slipping below 24,500 level.
The Sensex crashed 1,097.00 points, or 1.37%, to close at 78,918.90, while the Nifty 50 settled 315.45 points, or 1.27%, lower at 24,450.45.
Here’s what to expect from Sensex, Nifty 50, and Bank Nifty today:
Sensex Prediction
Sensex fell below its short-term and medium-term averages and also formed a lower top on daily charts. For the week, the index declined 2.91%, forming a bearish candle on weekly charts, indicating further weakness from the current levels.
“We are of the view that the short-term market texture is volatile; hence, level-based trading would be an ideal strategy for traders. On the downside, 78,800 would act as an immediate support zone for traders. Below 78,800, Sensex could retest levels of 77,900. Further downside may also continue, which could drag the index to 77,500,” said Amol Athawale, VP Technical Research, Kotak Securities.
On the flip side, he believes 79,500 would be the immediate resistance zone for traders. If Sensex succeeds in trading above 79,500, then the pullback move could continue till 80,400 – 80,600.
Mayank Jain, Market Analyst, Share.Market said that the immediate support for Sesex is 78,500 – 78,700.
“Monday’s low of 78,543 remains the ‘line in the sand.’ If this zone is breached, Sensex could face a deeper correction toward 78,000. Immediate resistance is seen at 79,500 – 80,000. The 80,000 mark has now become a formidable psychological barrier. Bulls will need a strong trigger to push the index back above this supply zone,” said Jain.
Nifty 50 Prediction
Nifty formed a bearish candle on the daily chart, reflecting a continued weak outlook following the recent breakdown. For the week, Nifty 50 declined 2.89%.
“A long bear candle was formed on the daily chart beside the bull candle of Thursday. The present market action signals that Nifty 50 has negated the bullish sentiment that was created after the sharp gain of Thursday. This is not a good sign and it suggests that the Nifty 50 could retest the Wednesday’s low of 24,300 in the short term. Immediate resistance is placed at 24,700,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
Nilesh Jain, VP- Head of Technical and Derivative research at Centrum Finverse said that the next major support for Nifty 50 is placed at 24,300, and a break below this level could drag the index towards 24,000.
“On the upside, if Nifty 50 manages to reclaim the 24,800 mark, we may witness a short-covering move towards 25,000. The broader structure remains weak, and any pullback is likely to attract selling pressure. Momentum indicators and oscillators remain in sell mode on both the daily and weekly charts. Meanwhile, INDIAVIX surged another 11% to close near the 20 level. Any further rise in volatility could intensify the downside risks,” said Jain.
According to Sudeep Shah – Head of Technical and Derivatives Research at SBI Securities, the immediate support for Nifty 50 is placed in the 24,350 – 24,300 zone, which acted as a strong support in the month of August 2025.
“Any sustainable move below this zone could result in Nifty 50 extending its weakness towards 24,100, followed by 23,800 in the short term. On the upside, the zone of 24,750 – 24,800 zone is likely to act as an immediate resistance,” said Shah.
Bank Nifty Prediction
Bank Nifty index cracked 1,272.60 points, or 2.15%, to close at 57,783.25 on Friday, forming a strong bearish candle on the daily chart. For the week, the index plunged 4.54% as the banking rout intensified.
“Technically, the Bank Nifty index has broken its recent swing low and is now trading below the 100-day SMA, which confirms a major breakdown. For this week, the 57,400 – 57,300 zone is a key level to watch which aligns with the 200-day SMA. If the index fails to hold this level, we could see a deeper correction toward 56,800,” said Dr. Ravi Singh, Chief Research Officer from Master Capital Services Ltd.
On the flip side, he believes 58,500 and 59,300 have now turned into stiff resistance zones. “The strategy remains ‘sell on recovery’ as long as the Bank Nifty index stays under the 59,000 mark.”
Om Mehra, Technical Research Analyst, SAMCO Securities highlighted that the Bank Nifty index broke below the previous swing low near 57,800, which indicates that the recent corrective phase has deepened. The index is now trading below the 100-day SMA, while the 200-day SMA near 57,500 is emerging as the next important support area.
“The MACD has moved deeper into negative territory, and the RSI has slipped near 32, highlighting sustained weakness. The support zone is placed near 57,500, which coincides with the 200-day moving average. A move below this level could push the index further lower,” said Mehra.
On the upside, 58,300 – 58,500 is likely to act as the resistance band. Unless Nifty Bank moves back above this zone, the near-term outlook is likely to remain weaker, he added.
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.
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