Nifty 50, Sensex Update: Indian Stock Market Outlook Amid US-Iran Tensions Easing

Indian Stock Market Update: Sensex and Nifty 50

Market Outlook

The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open higher on Tuesday, following upbeat cues from global markets amid signs of de-escalation in the US-Iran war. The Gift Nifty is trading at 22,843, a premium of nearly 328 points from the Nifty futures' previous close.

Global Markets

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Global markets rallied on signals of de-escalation of the US-Iran war in the Middle East. US President Donald Trump extended his deadline for Iran to reopen the Strait of Hormuz, and said that the US will hold off striking Iranian power plants for five more days.

Market Predictions

• Sensex: The index has broken below the crucial 74,000 – 73,500 support zone, indicating a shift towards short-term bearish momentum. Immediate support is now placed near the 72,000 – 72,200 zone.
• Nifty 50: The index formed a sizable bearish candle with a lower high and a lower low, signaling continuation of the downward bias for the fifth consecutive week. Immediate resistance is now placed at 22,700 – 22,800 levels.
• Bank Nifty: The index ended 1,989.30 points lower at 51,437.75 on Monday, forming a large bearish candle, indicating strong selling pressure. Immediate resistance is now placed at 51,900 – 52,000 zone.

Technical Analysis

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• Aakash Shah, technical research analyst at Choice Equity Broking, expects the market sentiment to remain cautious to negative in the near term, with volatility expected to remain elevated in upcoming sessions.
• Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, expects further weakness from the current level, dragging the Nifty 50 index down to 22,000 – 21,800 levels in the near term.
• Bajaj Broking Research noted that the Nifty 50 index continues to show a bearish bias in both the short and medium term, as it is forming a pattern of lower highs and lower lows.

Key Levels

• Sensex: Immediate support at 72,000 – 72,200 zone, resistance at 73,000 – 73,200 range.
• Nifty 50: Immediate resistance at 22,700 – 22,800 levels, support at 22,500 (previous opening upside gap of 11 April 2025).
• Bank Nifty: Immediate resistance at 51,900 – 52,000 zone, support at 50,700, followed by the psychological 50,000 level in the short term.