Nifty, Sensex, Nifty Bank outlook for today: GIFT Nifty down 27 pts; key levels to watch

Indian shares are expected to open little changed on Friday as reduced possibilities of a US Federal Reserve rate hike ​in September offset concerns regarding persistent tensions in the Middle ‌East. Brent crude ​futures dropped to $87 per barrel while US producer price data further reduced expectations for a Federal Reserve rate hike ​next month. Nifty is expected to trade sideways with a marginal negative bias amid escalating geopolitical tensions in West Asia and higher crude prices. With the Q1FY27 earnings season nearing its end, investors are expected to shift their focus towards macro indicators and global developments going forward, said Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services.GIFT Nifty, Asian markets & US stocks GIFT Nifty Futures on the NSE International Exchange were 27 points, or 0.11 per cent, down at 24,441, hinting at a muted start for the domestic market on Friday. Asian stocks rose on Friday, poised for their strongest week. KOSPI jumped 1.6 per cent, while Nikkei gained nearly a per cent. Hang Seng edged lower in early trade. US stocks settled for higher close on Thursday fueled by positive economic data and upbeat Q1 earnings. The S&P 500 ​climbed 0.65 per cent to end the session at 7,798.99 points, exceeding its record high close last Friday. The Nasdaq gained 0.81 per cent to 26,803.03 ​points, while the Dow Jones Industrial Average rose 0.13 per cent to 53,839.99 points.Crude, US dollar, gold & more Brent futures steadied at $87.03 per barrel after a drop on Thursday but were set for a 4 per cent weekly gain, snapping a two-week losing streak. The broader currency market has been fairly steady this week, with support for the dollar from higher oil prices. In commodities, gold was 0.8 per cent down at $4,313 per ounce Investor sentiment remained subdued as Brent crude hovered around the higher range, with persistent concerns over the Middle East and key shipping routes keeping energy prices elevated, said Ajit Mishra, SVP of Research at Religare Broking. "We suggest utilising market dips selectively to accumulate quality stocks from these outperforming pockets, while maintaining disciplined risk and position management."FII-DII flows Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 510.69 crore on Thursday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 4,353.09 crore on a net-net basis.Nifty50, Sensex & India VIX outlook Nifty is placed above the crucial support of 24,300, but the market has failed to sustain the upside so far. The underlying trend of Nifty remains choppy with weak bias. As long as Nifty sustains above 24,200-24,300 there is a possibility of bounce back from the lower levels. Immediate resistance is placed at 24,500, said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. 24,450 remains an immediate resistance, and a decisive move above this level is required for a meaningful recovery. On the lower end, support is placed at 24,300, said Rupak De, Senior Technical Analyst at LKP Securities. "A fall below 24,300 might trigger further weakness in the market. Until there is a decisive breakout, the index may remain rangebound, offering limited opportunities." Sensex formed a long red candle with a long lower shadow on the daily chart, indicating buying interest emerging from lower levels. The broader outlook remains sideways with a buy-on-dips bias, as the index continues to hold near its key short-term moving-average support, said Sachin Gupta, VP of Technical Research at Choice Broking. "Sustaining the 77,400–77,600 zone will be crucial for maintaining the current structure, while a decisive move above 78,300–78,500 could trigger fresh buying momentum. Until a clear breakout or breakdown emerges, traders may continue to adopt a cautious buy-on-dips strategy while monitoring the 20-Day EMA and key range boundaries," he said. Momentum remains subdued, with RSI at 53.33, below its average of 57.78 and indicating continued loss of momentum, although it remains above the neutral 50 mark. India VIX at 11.43 remains subdued, suggesting that the ongoing weakness is occurring without a significant rise in market-wide volatility, said Dhupesh Dhameja, Derivatives Research Analyst at SAMCO Securities.Nifty Bank outlook Nifty Bank formed a small-bodied bearish candle on the daily timeframe and closed within the previous day’s trading range, reflecting indecision. The RSI is moving sideways, while the ADX remains flat, indicating a lack of strong directional momentum and volatility, said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities. "Going ahead, the immediate resistance for Bank Nifty is placed in the 57,900-58,000 zone. Any sustainable move above this zone could result in Bank Nifty extending its pullback towards 58,400, followed by 58,800 in the short term. On the downside, the immediate support for Bank Nifty is placed in the 57,200-57,100 zone," he added. Bank Nifty formed a small bearish candle which remained enclosed inside previous session price range signaling consolidation with corrective bias around the 20 days EMA. The index may extend the consolidation and a breakout and breakdown will signal a directional momentum, said Bajaj Broking Research. "Within the consolidation, it is facing resistance around 58,000, a move above the same will open upside towards 58,500-58,700 levels while failure to move above 58,000 will lead to consolidation in the broad range of 57,000-58,000. A shallow retracement of its previous up move highlights a higher base formation. The current breather should be used to accumulate quality stocks," it adds.