Indian Stock Market Update: Nifty 50, Sensex Trading Outlook on March 10 Amid Global Tensions

Indian Stock Market Outlook

Key Highlights

• The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open higher on Tuesday, following upbeat global market cues.
• The Gift Nifty was trading around 24,397, a premium of nearly 275 points from the Nifty futures' previous close.
• On Monday, the Indian stock market ended sharply lower amid escalating US-Iran war and a steep surge in crude oil prices.

Sensex Prediction

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• Sensex is holding a lower top formation on daily and intraday charts, indicating further weakness from current levels.
• Key support zones for Sensex are 77,500 and 77,200, while immediate resistance lies at 78,000 and 78,200.
• A decisive break below 76,000 could lead to a deeper correction towards 75,000.

Nifty 50 Prediction

• Nifty 50 formed a bullish candle with a lower high and a lower low, signaling a partial pullback after a gap down opening.
• The overall structure of the market remains weak, with a bearish chart pattern like lower tops and bottoms intact on the daily/weekly chart.
• Immediate major support for Nifty 50 is placed around 23,800, while 23,700 remains a crucial level to watch.

Bank Nifty Prediction

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• Bank Nifty index slipped 1,763.45 points, or 3.05%, to close at 56,019.80 on Monday, forming a small-bodied candle with a long lower shadow.
• The daily RSI at 24.88 was the lowest reading since January 2025, indicating a shift in the medium term trend.
• Immediate support for Bank Nifty is placed around 55,600 and 55,500, while a sustained break below 55,500 may extend the decline towards 54,900.