Nifty 50, Sensex today: What to expect from Indian stock market in trade on October 14

The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open flat on Tuesday, tracking mixed global market cues.

The trends on Gift Nifty also indicate a flattish start for the Indian stock market today. The Gift Nifty was trading around 25,319 level, a premium of nearly 10 points from the Nifty futures’ previous close.

On Monday, the Indian stock market indices ended lower, with the benchmark Nifty 50 holding above 25,200 level.

The Sensex declined 173.77 points, or 0.21%, to close at 82,327.05, while the Nifty 50 settled 58.00 points, or 0.23%, lower at 25,227.35.

Here’s what to expect from Sensex, Nifty 50 and Bank Nifty today:

Sensex Prediction

Sensex took support near 82,000 and bounced back sharply after a gap-down open on Monday.

“We believe that the intraday market texture is volatile and non-directional; hence, level-based trading would be the ideal strategy for day traders. On the downside, 82,000 and 81,800 would act as key support zones for Sensex, while 82,500 - 82,800 could serve as immediate resistance areas for the bulls. However, below 81,800, the index could retest the level of 81,500,” said Shrikant Chouhan, Head Equity Research, Kotak Securities.

According to Mayank Jain, Market Analyst, Share.Market, market participants should watch the 82,100 to 81,900 support zone, a breach could intensify further profit booking.

“Upside resistance is seen at 82,500 – 82,700, where supply may emerge. The near-term trend will hinge on global news flow and ongoing earnings commentary, with investors likely to stay conservative unless external headwinds subside,” said Jain.

Nifty OI Data

In the derivatives segment, the highest Nifty call open interest (OI) was recorded at the 25,300 strike, while the maximum put open interest was concentrated at the 25,200 strike. This positioning indicates strong resistance near 25,300; however, traders are eyeing potential upside, with a sustained close above this level necessary to maintain bullish momentum in the near term,” said Amruta Shinde, Technical & Derivative Analyst at Choice Equity Broking Private Limited.

Nifty 50 Prediction

Nifty 50 formed a green candle on the daily chart, indicating underlying strength and buying support at lower levels.

“A small positive candle was formed on the daily chart with a gap down opening. Technically, this market action indicates a choppy movement or minor downward correction in the market. Larger degree higher tops and bottoms is intact on the daily / weekly chart and the recent upmove could be in line with the formation of a new higher top of the sequence,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

According to him, the short-term trend of Nifty 50 is choppy, but the underlying medium-term trend remains positive. Any further weakness from here could find support around 25,000 levels before bouncing back from the lows. Immediate resistance is placed at 25,500 levels.

Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research), Centrum Broking Ltd. believes that the overall trend remains bullish as long as the Nifty 50 index trades above 25,050, and a gradual upmove towards 25,400 appears likely in the near term.

“On the derivatives front, fresh Call writing was observed at the 25,300 strike, which now holds the highest open interest (OI) on the Call side. A decisive break above 25,300 could trigger short covering, paving the way for further upside. Meanwhile, the base has shifted higher to the 25,200 strike, indicating strong support at that level. Overall, the data setup looks positive, and a sustained move above 25,300 will confirm a follow-up rally in the index,” said Jain.

According to Dr. Praveen Dwarakanath, Vice President of Hedged.in, the Nifty 50 formed an insider candle, indicating indecision in the index.

“The majority of the day stayed within a range of 50 points as the option’s writer’s data suggested high volume call writing above 25,300 and put writers below 25,150 levels. The ADX DI+ and the ADX DI- line are moving in tandem, indicating no clear trend in the index. The RSI average line crossed the RSI line towards the end of the day, hinting at a possible move on the upside from the closing price,” said Dwarakanath.

Mayank Jain noted that Nifty’s immediate support is located at 25,100, followed by a stronger base near 24,900.

“If market sentiment improves, resistance resides between 25,300 – 25,350. Sustained buying above these levels may trigger a move towards the 25,500 – 25,600 zone; however, if global cues remain weak or inflation data disappoints, further downside toward support levels is possible,” said Jain.

Bank Nifty Prediction

Bank Nifty index ended 15.25 points, or 0.03%, higher at 56,625.00 on Monday, forming a bullish candle on the daily chart with a higher high and higher low, highlighting positive bias.

“Nifty Bank index has managed to sustain above the descending trendline breakout and continues to hold comfortably above all major moving averages on both the daily and hourly charts, reflecting ongoing strength in the broader trend. The RSI at 67 remains in positive territory, maintaining upward strength, while the MACD continues to hold a bullish crossover, indicating steady momentum. The hourly setup also remains resilient, with the supertrend indicator offering trailing support,” said Om Mehra, Technical Research Analyst, SAMCO Securities.

Bank Nifty is currently trading above its immediate support at 56,400 – 56,150, while resistance is visible around 56,780 – 56,900.

“Overall, the Bank Nifty index remains well-positioned above its breakout zone, and as long as it sustains above 56,150, the short-term outlook stays positive, with potential for a measured rise toward 56,800 – 57,000 in the coming sessions,” said Mehra.

Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment Intermediates Ltd said that the immediate support for the Bank Nifty is placed near 56,300, where the trend line support lies, followed by 55,820.

“As long as the Bank Nifty index holds above 55,820, it is likely to extend its move towards 57,000 – 57,300 levels. Hence, traders are advised to maintain a buy-on-dips strategy in the short term,” said Yedve.

Bajaj Broking Research noted that the Bank Nifty index is likely to sustain its upward momentum, with immediate support placed at 56,200 - 56,300 levels, being Monday’s low, followed by a stronger base near 55,800 - 55,600.

“We expect the Bank Nifty index to head towards the immediate resistance of 57,000, a move above the same will open further upside towards all-time high placed around 57,600 levels. From an oscillator perspective, the Stochastic indicator, which earlier hovered in oversold territory, has shown a sharp recovery and is now approaching overbought levels, indicating strong underlying momentum,” said Bajaj Broking Research.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.