Stock Market Update: Nifty 50, Sensex Likely to Open Lower amid Failed US-Iran Talks

The Indian stock market will likely open on the negative side on Monday amid weak global cues and increased crude oil prices as US-Iran ceasefire talks failed to reach any agreement. GIFT Nifty also points to a gap-down open, trading at 23,736.5 with a discount of 355 points from its previous Nifty futures close.

On Friday, the Sensex jumped 918.60 points or 1.20% to settle at 77,550.25, while Nifty 50 advanced 275.50 points or 1.16% to close at 24,050.60.

The India VIX has declined sharply by 25% during the week, easing towards the 19 mark.

Sensex Outlook 

The Sensex formed a bullish candle on the daily chart with a long lower shadow. It continues to rebound strongly from lower levels, reinforcing the ongoing recovery.

The support for the index is seen at 77,000-77,100, which will likely act as a demand zone. A break below this will invalidate the current ongoing positive structure.

Immediate resistance is at 78,000-78,200, here an upside may face supply pressure. 

Nifty 50 Outlook

Last week, Nifty 50 gained 5.89%, its biggest weekly gain in five years, snapping its six-week losing streak. The index formed a bullish candle with higher highs and higher lows on the weekly chart.

“The broader market structure remains positive, and a further short-covering rally could push the Nifty 50 index towards the 24,300-24,500 zone in the near term. The base continues to shift higher, with immediate support now placed around 23,800 levels. Momentum indicators and oscillators are also signaling strength, as the RSI has moved above the 50 mark,” said Nilesh Jain, Head of Technical and Derivatives Research Analyst, Centrum Broking Ltd. 

On the upside, 24,300 will act as a resistance; a sustained break above this level could trigger a rally toward 24,600 in the short term.

Bank Nifty Outlook

On Friday, Bank Nifty rose 1,091.05 points or 1.99% to close at 55,912.75, forming a strong bullish candle. The index surged 8.47% over the last week.

Immediate resistance for the index is placed at 56,400-56,500; a sustained move above this zone may result in a pullback extending to 57,000, followed by 57,500.

On the downside, the zone of 55,400-55,300 is likely to act as an immediate support.

Also Read: Intel Stock Rallies 70% as AI Partnership with Google Cloud Expands. 

Key Things to Watch

The markets will closely watch the Q4 earnings and foreign investors' trading activity this week.

"With the onset of the Q4 FY26 earnings season, key results from heavyweight companies, such as Wipro, HDFC Bank, and ICICI Bank, will be closely monitored, along with several others. On the macro front, important data releases include CPI inflation (April 13), WPI inflation (April 14), which will provide insights into inflation trends," Ajit Mishra - SVP, Research, Religare Broking Ltd, shared while speaking about the current market scenario.