Indian Stock Market Update

Market Outlook

The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open lower on Wednesday, tracking a sell-off in global markets amid escalating tensions in the US-Israel-Iran war. The Gift Nifty is trading at 24,443, a discount of nearly 539 points from the previous close.

Recent Market Performance

Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data

The Indian stock market was closed on Tuesday, March 3, due to Holi 2026 celebrations. On Monday, the Nifty 50 slipped below 24,900, closing at 24,865.70, while the Sensex crashed 1,048.34 points, or 1.29%, to close at 80,238.85.

Market Predictions

Sensex Prediction

• Short-term and medium-term averages: Below current levels
• Intraday charts: Weak formation, largely negative
• Key support zone: 80,000
• Resistance zone: 81,000 - 81,300

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

Nifty 50 Prediction

• Underlying trend: Down
• Key support: 24,600
• Immediate resistance: 25,000
• Possible extension: 24,200

Bank Nifty Prediction

• Support zone: 59,400 - 59,300
• Immediate hurdle: 60,300 - 60,400
• Accelerated decline: 58,800, followed by 58,300

Key Indicators

• India VIX: 17, signaling elevated market uncertainty
• Momentum indicators and oscillators: Sell crossover, indicating a weak underlying tone

Recommendations

• Remain cautious near crucial support levels
• Avoid fresh directional positions until a decisive breakout above resistance zones emerges