Nifty 50, Sensex Today: Markets Likely to Open Lower on November 18 Amid Weak Global Cues
Indian stock markets are expected to open lower on Tuesday amid weak global cues. While the Sensex and Nifty closed higher on Monday, analysts highlight key support and resistance levels that will guide today’s trade.
Traders monitor market trends at the Bombay Stock Exchange as Sensex and Nifty hint at a weak opening amid global pressure.
The Indian stock market is expected to begin Tuesday’s trade on a weaker note, tracking sluggish global sentiments. Gift Nifty futures signalled a negative opening, trading around 26,008 — nearly 52 points below the previous close of Nifty futures.
On Monday, benchmark indices ended on a positive note, with the Nifty 50 reclaiming the 26,000 mark. The Sensex rose 388.17 points (0.46%) to settle at 84,950.95, while the Nifty 50 added 103.40 points (0.40%) to close at 26,013.45.
Sensex Outlook
The Sensex formed a bullish candle on the daily charts, indicating continued momentum.
Analysts expect 84,500 to act as a crucial support level. Holding above this zone could push the index towards 85,200, and further to 85,500–85,700. A fall below 84,500 may weaken the current uptrend, according to Kotak Securities’ Shrikant Chouhan.
Technical support is seen at 84,500–84,400, while resistance lies near 85,100–85,200, said Mayank Jain of Share.Market.
Nifty 50 OI Trends
Derivatives data showed significant call writing at 26,050 and 26,200, with heavy put OI at 25,900, signalling strong support at lower levels.
A sustained close above 26,050 could strengthen the bullish sentiment and open the door for higher levels, according to Choice Equity Broking.
Nifty 50 Prediction
The Nifty 50 formed a bullish candle, staying poised to break above the 26,100 hurdle. Analysts highlight a strong higher-top, higher-bottom pattern on charts.
A decisive breakout above 26,100 could lead the index towards 26,300–26,400 in the near term. Immediate support is placed at 25,900, said HDFC Securities’ Nagaraj Shetti.
Experts also note resistance at 26,100–26,280, while support has shifted to 25,790 (21-DMA). The broader trend remains bullish, with any dip likely to attract buying interest.
Bank Nifty Prediction
In contrast to Bank Nifty showing a strong bullish candle and having an overall bullish stance, one may remain optimistic from a broader perspective, only in case that the reverse could happen.
Amidst two crucial horizontal trading lines, near term resistance is compiled at 59,200 and the earlier resistance is 58,700-58,600.
