Nifty 50 Opens 27.75 Points Lower at 22,964.50, Sensex Falls 48.65 Points

Indian equity markets opened on a subdued note on Friday as escalating geopolitical tensions, elevated crude oil prices and weak global market signals weighed on investor sentiment.

The Nifty 50 opened 27.75 points lower at 22,964.50, while the Sensex declined 48.65 points to 74,199.69. Bank Nifty also started marginally lower at 54,907.10, down 2.55 points from its previous close.

However, broader markets showed relative strength, with both the Nifty Midcap and Smallcap indices gaining around 1% each.

The Indian rupee opened slightly stronger at Rs 95.21 against the US dollar compared with its previous close of Rs 95.25.

FII and DII Activity

Foreign institutional investors (FIIs) recorded net purchases of Indian equities worth Rs 4,240.39 crore on Tuesday, marking their highest single-day net buying this month.

In contrast, domestic institutional investors (DIIs) remained net sellers, offloading equities worth Rs 1,250.03 crore.

The contrasting investment trends indicate continued differences in institutional positioning in the domestic equity market.

Sensex Outlook: 74,500–74,800 in Focus

The Sensex formed a long bullish candle on the daily chart, indicating buying interest at lower levels. The intraday chart also shows an uptrend continuation formation, suggesting the possibility of further gains.

According to Shrikant Chouhan, Head of Equity Research at Kotak Neo, the 73,800 and 73,500 levels are important support zones for traders.

As long as the index sustains above these levels, the prevailing bullish sentiment could continue, with the next upside targets placed between 74,500 and 74,800.

However, a sustained fall below 73,500 could weaken the positive outlook and prompt traders to reconsider their long positions.

Nifty 50 Outlook: 23,000 Remains Crucial Resistance

The Nifty 50 has broken out of its five-session consolidation range, forming a bullish candle in the previous trading session and indicating renewed buying interest.

The 23,000 mark remains an important immediate resistance level.

On the weekly chart, the index has maintained support around its 200-week Exponential Moving Average (EMA) over the past three to four weeks. The hourly chart also indicates support from a rising trendline, making this level significant for the near-term market direction.

On the upside, the 23,200–23,300 zone is expected to act as a major resistance area.

Meanwhile, immediate support is placed between 22,800 and 22,600. Holding above this range could help sustain the ongoing recovery in the benchmark index.

Bank Nifty Outlook: Breakout Above 55,100 Could Trigger Rally

Bank Nifty has shown signs of improving short-term momentum after closing above the previous day’s bullish piercing-line candle and its 10-day EMA.

The immediate resistance zone is placed between 55,000 and 55,100.

A decisive breakout above this range could trigger short covering and potentially push the index towards 56,000. The resistance zone also coincides with the 61.8% Fibonacci retracement level and the area of maximum Call open interest concentration.

On the downside, the 54,500–54,700 range is expected to provide important support.

The short-term technical outlook remains positive, with a buy-on-dips strategy favoured as long as the index sustains above its key support levels.

Key Market Levels to Watch

Investors will continue to monitor global developments, crude oil movements and institutional trading activity for further direction. Despite the cautious opening, technical indicators suggest that the broader recovery could remain intact if the benchmark indices hold their respective support levels.