The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Monday, tracking upbeat global market cues on signs of the US-Iran peace deal boosted investor sentiment. According to reports from Livemint, the trends on Gift Nifty indicate a gap-up start for the Indian benchmark index, with the Gift Nifty trading around 23,961 level, a premium of nearly 217 points from the Nifty futures' previous close. However, analysts now expect the Nifty to remain range-bound with a positive bias for Monday's trade, with immediate support seen near 23,300 and resistance placed in the 23,800–24,000 zone. A breakout above resistance could strengthen bullish momentum, while failure to hold support may again trigger selling pressure.
On Friday, the Indian stock market ended higher, with the benchmark Nifty 50 closing above 23,700 level. As reported by Livemint, the Sensex gained 231.99 points, or 0.31%, to close at 75,415.35, while the Nifty 50 settled 64.60 points, or 0.27%, higher at 23,719.30. The positive momentum from the previous session is expected to carry forward into Monday's trading session, with the upcoming week expected to remain highly sensitive to global macroeconomic developments, currency movements, and policy commentary.
According to Kotak Securities analysis reported by Livemint, Sensex formed positive consolidation near the 50-day SMA on daily charts. The index rose 0.24% last week and formed a bullish candle on weekly charts. Amol Athawale, VP Technical Research at Kotak Securities, noted that for positional traders, 75,400 would act as an immediate support zone, with resistance at 75,900. A successful breakout above 75,900 could push the index up to 76,400 - 77,000, while a drop below 75,400 could lead to retesting of 74,500 - 74,200 levels.
As reported by HDFC Securities to Livemint, Nifty 50 formed small bullish candles on daily and weekly charts. Nagaraj Shetti, Senior Technical Research Analyst, highlighted that the index continues to test key overhead resistance around 23,850 with rising low formations, indicating positive signals. Nilesh Jain from Centrum Finverse Ltd noted that the index managed to sustain above its 50-DMA near 23,690, with the next crucial support around 23,500. A decisive move above 23,800 could trigger a fresh short-covering rally towards 24,000 levels.
According to SBI Securities analysis reported by Livemint, Bank Nifty rallied 615.95 points, or 1.15%, to close at 54,055.35 on Friday, forming a strong bullish candle. The index continues to consolidate within the 54,394 - 52,783 range over the last nine sessions. Sudeep Shah from SBI Securities noted that the immediate resistance for Bank Nifty is placed in the 54,400 - 54,500 zone, with immediate support at 53,600 - 53,500.
During a press interaction in New Delhi alongside External Affairs Minister S Jaishankar, US Senator Marco Rubio hinted at potential good news regarding the Iran-US war negotiations, stating "I do think perhaps there is the possibility that in the next few hours the world will get some good news." He added that negotiations were still ongoing and described the issue as technically complex, noting "We have made some progress in the last 48 hours, but we still have some work to do." The positive development regarding the ongoing West Asia crisis will bring cheers to investors who were bracing for a gloomy and muted investing environment since the fallout of the war in late February 2026. The crude oil prices also cooled off over the progress in negotiations, with Brent crude trading near $103 per barrel and WTI crude futures coming below $100 per barrel.
