Stock Market Update: Nifty 50, Sensex Set for Positive Start as Gift Nifty Signals Gap-Up Opening

Indian equity markets are expected to open positively on Monday, February 9, backed by firm global cues. GIFT Nifty also shows a gap-up opening as the index trades at 25,926, with an increase of 191 points above its previous Nifty futures close.

On Friday, benchmark indices ended higher following the policy announcement by the Reserve Bank of India. The Sensex advanced 266.47 points or 0.32% to close at 83,580.40, while the Nifty 50 gained 50.90 points or 0.20%, settling at 25,693.70.

Sensex Outlook

The Sensex registered a weekly gain of nearly 1.6%, forming a bullish structure on higher timeframes, though profit booking was visible near record levels. 

Market participants will closely track the 83,000-83,300 zone which is an important near-term support area. A stronger cushion is seen closer to 82,500.

On the upside the 84,000-84,200 zone remains a key resistance band. Heavy call open interest around this level could continue to cap sharp rallies unless volumes expand. 

Nifty 50 Outlook

The Nifty 50 has shown improving technical strength after closing above its 20-week EMA, signalling a shift toward a more positive structure. 

Immediate support lies at the 25,500-25,550 zone, where options data indicate steady put accumulation. As long as this level is defended, the index may attempt to move higher. 

A sustained break above 25,800 could open the door for a rally toward 26,000 followed by 26,300-26,350 in the near term. 

However, the 26,000 mark remains a significant psychological and derivatives-based hurdle.

Bank Nifty Outlook

The Bank Nifty closed its last trading session at 60,120, which suggests buying interest at lower price levels. 

The index remains above key short-term moving averages, indicating momentum is improving. 

The index needs to break through the resistance area of 60,300-60,400 before reaching higher targets at 60,800 and 61,200. 

The 59,700-59,600 range will act as a strong support on the downside. 

Also Read: Stock Market Basics for Beginners: How Investing Works

Market Context

The Nifty Midcap 100 closed flat while the Smallcap 100 decreased by 0.3% as investors showed restricted market participation. 

Sectorally, FMCG stocks outperformed, supported by defensive buying by investors while IT stocks faced pressure from global technology issues and developments in artificial intelligence. 

The Indian markets opened the week with cautious optimism amid domestic technical improvements, while global uncertainties remain.