Indian Stock Market Update: Nifty 50, Sensex Performance Expected Amid Global Tensions on March 2

Indian Stock Market Outlook

Market Trends

The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open lower on Monday due to the escalating war in the Middle East following the US and Israeli strikes on Iran and the retaliatory attack by the Islamic Republic.

Nifty 50

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The Nifty 50 is likely to react to the war in the Middle East after Iran's Supreme Leader Ayatollah Ali Khamenei was killed in the US-Israel joint strikes. The index formed a long bearish candle on the daily chart, indicating a sharp breakdown of a descending triangle type pattern. The underlying trend of Nifty 50 is sharply down, and the overall negative chart pattern signals further downside to 24,700 levels in the near term.

Immediate Support and Resistance

• Immediate support for Nifty 50 is placed near 25,000, followed by a stronger base around 24,800.
• Key resistance zones for Nifty 50 are 25,400 and 25,500.
• The 200-DMA of Nifty 50 is placed at 25,350, which is expected to act as an immediate resistance zone.

Sensex

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The Sensex has tested the 81,200-81,000 zone, with further downside risk if volatility persists. Immediate resistance is positioned at 82,000-82,500. The broader structure appears mildly negative with an indecisive undertone, favoring accumulation on weakness rather than aggressive positioning.

Bank Nifty

The Bank Nifty index ended 658.70 points, or 1.08%, lower at 60,529.00 on Friday. For the week, the index lost 1.08% and formed a short-term double-top pattern. The 60,300-60,250 zone will act as a crucial support base for the Bank Nifty index.

Key Levels

• Support levels for Nifty 50: 25,000, 24,800
• Resistance levels for Nifty 50: 25,400, 25,500
• Support levels for Bank Nifty: 60,300-60,250
• Resistance levels for Bank Nifty: 60,700-60,800, 61,000, 61,500