Sensex May Stay Above 81,300; Nifty Eyes 25,300 if Momentum Holds

The Indian stock market is likely to open lower on Wednesday, following weak global cues, though the medium-term trend for Nifty 50 and Sensex remains bullish.

The Gift Nifty was trading near 24,965, around 68 points below Nifty futures’ previous close, indicating a soft start.

On Tuesday, benchmark indices extended their rally for a fourth consecutive session, with the Sensex rising 370.64 points to 81,644.39 and the Nifty 50 gaining 103.70 points to settle at 24,980.65.

Sensex Technical View

• Support at 81,300: As long as Sensex trades above this level, the uptrend could continue toward 82,000–82,300, according to Shrikant Chouhan of Kotak Securities.

• Below 81,300: Momentum may weaken, prompting traders to exit long positions.

Nifty 50 Outlook and OI Data

• Resistance at 25,000–25,500 (highest Call OI) and support at 24,800–24,900 (highest Put OI).

• Bullish structure intact: Nifty holds above its 20-day and 50-day EMAs.

• Upside target: Analysts including Nagaraj Shetti (HDFC Securities) and Sudeep Shah (SBI Securities) see a possible move toward 25,150–25,300 if momentum persists.

• Buy-on-dips strategy: Immediate support has shifted to 24,800, with 24,770 (21-DMA) acting as a short-term floor.

Bank Nifty View

• Closed at 55,865.15 on Tuesday, forming a bullish candle.

• Resistance at 56,100–56,150: A break above this zone could signal stronger upside, says Om Mehra (SAMCO Securities).

• Support at 55,500–55,600: Buy-on-dips approach valid if these levels hold.

• Broader range: 54,800–56,300 consolidation; breach below 54,800 may trigger downside toward 54,000 (Bajaj Broking Research).

Overall Market Sentiment

• Momentum indicators rising: RSI and MACD trends reinforce positive bias.

• Analyst consensus: Any pullback toward 24,850–24,800 (Nifty) or 55,500 (Bank Nifty) likely attracts fresh buying.

• Decisive close above 25,000 (Nifty) or 56,150 (Bank Nifty) could ignite the next upward leg.