Stock Market Update: GIFT Nifty Signals 275-Point Gap-Up as Global Sentiment Improves

Indian markets are expected to open positively on March 10. The support comes from improving global sentiment and signs that geopolitical tensions could ease. Investor confidence strengthened after US President Donald Trump suggested that the ongoing conflict with Iran may be close to a resolution.

Early signs from GIFT Nifty point toward a gap-up opening. The index was trading around 24,397 with a premium of 275 points from previous Nifty futures close. 

On Monday Sensex dropped 1,352.74 points to close at 77,566.16 while Nifty 50 declined 422.40 points settling at 24,028.05.

Sensex Outlook

Technically Sensex maintains its downward trend and forms lower highs on the daily chart. It reflects weakness despite the possibility of a short-term rebound. 

The 77,500-77,200 range will be the immediate support. If the index holds above this zone a pullback toward 78,000-78,200 may happen. 

The selling activity will likely speed up if index drops below 77,200 followed by deeper decline toward 76,500.

Nifty 50 Outlook

Nifty 50 formed a green candle with a long lower shadow which indicates buying interest emerging at lower levels after a sharp decline. 

The support zone is at 23,800 and 23,700 while resistance is expected between 24,200 and 24,400. 

If the index manages to sustain above 23,700 it could trigger short covering toward the 24,300-24,400 zone.

Derivatives data suggests strong put writing at the 23,800 strike price while major call writing has emerged at the 24,400 strike.

Bank Nifty Outlook

Bank Nifty declined 1,763.45 points to settle at 56,019.80 on Monday. The index has dropped below its 200-day exponential moving average for the first time since April 2025. It shows a potential shift in the medium-term trend. 

The 55,600-55,500 zone is expected to act as immediate support while resistance is likely to be near the 56,500-56,600 range.

Analysts suggest that a recovery toward 57,500 could happen if buying momentum strengthens although a sustained breakout above key moving averages will be needed to confirm a stronger bullish trend.

Also Read: US Stock Market Today: Middle East War Hits Stocks as Oil Surge Above $100 Fuels Inflation Fears

Global Market View

Global markets gave some support to investor sentiment overnight as US equities recovered. Dow Jones Industrial Average rose 239.25 points , to close at 47,740.80. 

Meanwhile, the S & P 500 advanced 55.97 points finishing at 6,795.99 while Nasdaq Composite gained 308.27 points ending at 22,695.95.