The Gift Nifty Live Chart is signalling a positive start to the Indian stock market today, with the index trading 350 points higher at 24,334.5, up 1.50%, indicating that the Nifty 50 may extend Wednesday's gains and build on its move above the 24,200 mark. According to Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher, Dalal Street may open with a gap-up today, as the Figt Nifty live chart is trading around 1.50% above its previous close. Expecting a positive opening for the Indian stock market, Avinash Gorakshkar, a SEBI-registered fundamental equity expert, said, "The Gift Nifty live chart and the global cues are signalling a positive start for the Indian stock market today. We can expect the Nifty 50 index to open around 24,300 to 24,325." The Indian stock market's undertone remains positive, following positive global cues amid renewed hopes for US-Iran ceasefire talks and relatively stable crude oil prices.
The Nifty 50 index crashed 207 points and closed at 23,842 after a broad-based sell-off that saw auto, FMCG, and IT stocks leading the decline, while select pockets within the energy and pharma space showed relative resilience. However, the index had previously witnessed a big gap up opening near the 24,150 zone and moved past the important 50-EMA at 24,200 level to further improve the bias. As reported by Prabhudas Lilladher, the index closed at 24,300 zone as the important hurdle which needs to be breached decisively further to establish conviction and clarity in the coming days. The rally was broad-based, with all major sectors trading in the green—led by IT, realty, and energy. According to Economic Times, Indian equities closed sharply higher on Wednesday, with the Nifty reclaiming the 24,200 mark, supported by broad-based buying across sectors. Ajit Mishra, SVP — Research at Religare Broking, noted that "The index has once again reclaimed the 24,000 mark, indicating strengthening momentum in the ongoing recovery phase. The index is now expected to inch toward the 24,350–24,600 zone, with a key hurdle placed around 24,800, coinciding with the 200-DEMA."
Going forward, the 24,250–24,300 zone is likely to act as a crucial resistance band, with a decisive move above this range potentially triggering a rally towards 24,750–24,800 levels. As per Economic Times, analysts say bias for Nifty remains positive above Wednesday gap up area and the index likely to head towards 24,350 and 24,700 levels over the coming sessions. However, on the downside, support has shifted higher to the 23,900–23,600 range. As per Religare Broking, "We reiterate a positive yet cautious stance, focusing on stock selection and prudent overnight risk management. While broader indices are showing notable outperformance in the recent rally, participants are advised to remain selective and stick to quality names." The 24,300 zone needs to be breached decisively further to establish conviction and clarity in the coming days, while maintaining a cautious approach given ongoing geopolitical uncertainties.
The Bank Nifty index corrected 3,307 points and closed at 55,605 after facing significant pressure, with the index now facing an important resistance zone near the 57,000 level, which needs to be decisively breached above. According to Parekh, the index would need to sustain the 53,500-level, positioned as the important near-term support zone from the current rate. Vatsal Bhuva, Technical Analyst at LKP Securities, noted that "The Bank Nifty index has reclaimed its 38.2% Fibonacci retracement level, indicating a recovery in trend, though it formed a slightly bearish candlestick on the daily chart. Despite this, the index is holding above its 20-day moving average, suggesting underlying strength." The Bank Nifty index is likely to test the 57,100 zone, which aligns with the 200 DMA. As per LKP Securities, "On the downside, 55,800 will act as immediate support, followed by strong positional support at 55,000, while 57,000 is expected to remain a key resistance level."
Optimism was driven by expectations of renewed US–Iran negotiations, which helped ease concerns around potential oil supply disruptions and triggered a decline in crude prices. Brent crude futures fell 44 cents, or 0.5%, to $94.49 a barrel at 0021 GMT, while U.S. West Texas Intermediate crude declined 70 cents, or 0.8%, to $90.59 a barrel. According to KCM Trade, "Traders across Asia are clinging tightly to the hope that a new round of US-Iran peace talks will materialise in the coming days. The sight of oil trading at sub-$100 levels and hopes of a diplomatic breakthrough are combining to breathe life back into equities." The US and Iran are considering extending their ceasefire, which ends on Tuesday, by another two weeks to allow more time to negotiate a peace agreement. Brent crude oil prices have moderated and are consolidating in the $94–95 per barrel range, a constructive development for the domestic market. WTI crude oil price remains around $91 to $92/bbl, enabling bullion to attract buyers during early morning sessions. Lower crude prices are a positive for India, the world's third-largest oil importer, as they help ease the import bill, inflation, and pressure on corporate margins.
Foreign portfolio investors turned net buyers in the previous session, purchasing equities worth ₹666 crore, indicating some stabilisation in flows after recent volatility. According to Economic Times, FIIs added shares worth ₹1,242.85 crore in the Index Futures, while they offloaded Indian shares worth ₹4,453.45 crore. India VIX declined by more than 9% on Wednesday and closed near 18.6 levels, indicating a sharp reduction in fear and uncertainty. As per Religare Broking, "India VIX declined by more than 9% on Wednesday and closed near 18.6 levels, reflecting a sharp reduction in fear and uncertainty. While this makes option premiums relatively cheaper, they remain elevated compared to normal conditions, indicating the market is not fully out of the risk zone yet." The positive sentiment was further supported by strong risk-on sentiment and improved market breadth, with broader markets significantly outperforming benchmark indices.
