Nifty, Sensex, Nifty Bank outlook for today: GIFT Nifty down 114 pts; key levels to watch
GIFT Nifty Futures on the NSE International Exchange were 114 points, or 0.47 per cent, down at 24,145.50, hinting at a negative start for the domestic market on Tuesday.
- Jul 21, 2026,
- Updated Jul 21, 2026 7:47 AM IST
Indian equity benchmark indices set to open lower on Tuesday as investors remain cautious amid escalating geopolitical tensions in the Middle East, elevated crude oil prices, persistent foreign portfolio investor (FPI) selling, and continued weakness in the Indian rupee. The combination of external headwinds has reinforced a risk-off mood, limiting investors' appetite for equities.
Indian equities are expected to trade sideways to mixed amid escalating geopolitical tensions in West Asia, rise in crude oil prices, continued weakness in the rupee, persistent Foreign Institutional Investor selling and weak global cues, said Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services. "With the Q1 FY27 earnings season gathering pace, stock-specific action may dominate."
GIFT Nifty, Asian markets & US stocks GIFT Nifty Futures on the NSE International Exchange were 114 points, or 0.47 per cent, down at 24,145.50, hinting at a negative start for the domestic market on Tuesday. Asian stocks gained on Tuesday as mediation efforts in the Middle East pushed oil prices away from a one-month high. KOSPI surged more than 3 per cent, while Nikkei was up a per cent. Hang Seng edged lower.
US Stocks finished lower on Monday while investors looked for moves toward Middle East de-escalation and waited for earnings reports from Tech giants. The Dow Jones Industrial Average fell 307.16 points, or 0.59 per cent, to 51,839.26, the S&P 500 lost 14.41 points, or 0.19 per cent, to 7,443.28 and the Nasdaq Composite shed 12.17 points, or 0.05 per cent, to 25,508.07.
Crude, US dollar, gold & more Brent crude futures eased 0.38 per cent to $88.88 per barrel in early trading on Tuesday as investors latched on to hopes of a resolution. The US dollar hovered near a one-week high on Tuesday, with markets torn between conflicting Middle East signals. The US dollar was steady at 100.96, near its highest level since July 15. Gold prices managed to hold above the $4,000 mark an ounce.
Investor sentiment remained subdued after quarterly earnings from major private banks disappointed on the margin front, triggering a sharp sell-off in heavyweights, said Ajit Mishra, SVP of Research at Religare Broking. "We recommend maintaining a cautious 'buy-on-dips' approach, focusing on relatively stronger stocks while adhering to 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 1,121.04 crore on Monday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 1,312.03 crore on a net-net basis.
Nifty50 & Sensex outlook The market's trading range has narrowed, but a decisive breakout is still awaited. The key levels to watch remain 24,000/76,800 on the downside and 24,350/78,300 on the upside. As long as these levels remain intact on a closing basis, stock-specific action is likely to dominate, said Shrikant Chouhan, Head of Equity Research at Kotak Securities.
"A close below 24,000/76,800 could open the doors for a decline towards 23,800/76,200, whereas a sustained move above 24,350/78,300 may pave the way for a retest of 24,500/78,700. The preferred strategy is to reduce weak long positions in the 24,350–24,450 (78,300–78,600) zone, while remaining selective in accumulating quality stocks on declines," he said.
Sensex remains in a consolidation phase following the recent sharp correction. Immediate support is placed at 76,900–77,000, and a sustained break below this zone could extend the decline towards 76,500, said Sachin Gupta, VP of Technical Research at Choice Equity Broking. "Immediate resistance is seen around 78,400–78,500, and a decisive move above this zone could revive bullish momentum."
Nifty50 remains above its key EMAs, while every corrective dip continues to attract buying interest. 24,150-24,000 is likely to cushion any shortcomings in the near period, said Osho Krishan, Chief Manager - Technical & Derivative Research at Angel One. "On the flip side, 24350-24500 is seen as the next potential resistance zone and a decisive breakthrough could only pave the way for stronger momentum."
Nifty Bank outlook Nifty Bank formed a small body bullish candle with wicks on either side, highlighting intraday indecision. Despite the choppy Intraday movement, Bank Nifty managed to hold above its 20-day EMA, keeping its short-term bullish trend intact, said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities.
"Going ahead, the immediate resistance for Bank Nifty is placed in the 58,300-58,400 zone. Any sustainable move above this zone could result in Bank Nifty extending its pullback towards 58800, followed by 59,200 in the short term. On the downside, the immediate support for Bank Nifty is placed in the 57,600-57,500 zone," it added.
Technically, the 57,500-57,350 zone, which coincides with the 200-SMA on the hourly chart and the 200-DMA, is expected to provide strong support, said Vatsal Bhuva, Technical Analyst at LKP Securities. "On the upside, 58,500 remains a key resistance level. The overall trend remains positive, and a buy-on-dips strategy continues to be the preferred approach for traders."
Indian equity benchmark indices set to open lower on Tuesday as investors remain cautious amid escalating geopolitical tensions in the Middle East, elevated crude oil prices, persistent foreign portfolio investor (FPI) selling, and continued weakness in the Indian rupee. The combination of external headwinds has reinforced a risk-off mood, limiting investors' appetite for equities.
Indian equities are expected to trade sideways to mixed amid escalating geopolitical tensions in West Asia, rise in crude oil prices, continued weakness in the rupee, persistent Foreign Institutional Investor selling and weak global cues, said Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services. "With the Q1 FY27 earnings season gathering pace, stock-specific action may dominate."
GIFT Nifty, Asian markets & US stocks GIFT Nifty Futures on the NSE International Exchange were 114 points, or 0.47 per cent, down at 24,145.50, hinting at a negative start for the domestic market on Tuesday. Asian stocks gained on Tuesday as mediation efforts in the Middle East pushed oil prices away from a one-month high. KOSPI surged more than 3 per cent, while Nikkei was up a per cent. Hang Seng edged lower.
US Stocks finished lower on Monday while investors looked for moves toward Middle East de-escalation and waited for earnings reports from Tech giants. The Dow Jones Industrial Average fell 307.16 points, or 0.59 per cent, to 51,839.26, the S&P 500 lost 14.41 points, or 0.19 per cent, to 7,443.28 and the Nasdaq Composite shed 12.17 points, or 0.05 per cent, to 25,508.07.
Crude, US dollar, gold & more Brent crude futures eased 0.38 per cent to $88.88 per barrel in early trading on Tuesday as investors latched on to hopes of a resolution. The US dollar hovered near a one-week high on Tuesday, with markets torn between conflicting Middle East signals. The US dollar was steady at 100.96, near its highest level since July 15. Gold prices managed to hold above the $4,000 mark an ounce.
Investor sentiment remained subdued after quarterly earnings from major private banks disappointed on the margin front, triggering a sharp sell-off in heavyweights, said Ajit Mishra, SVP of Research at Religare Broking. "We recommend maintaining a cautious 'buy-on-dips' approach, focusing on relatively stronger stocks while adhering to 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 1,121.04 crore on Monday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 1,312.03 crore on a net-net basis.
Nifty50 & Sensex outlook The market's trading range has narrowed, but a decisive breakout is still awaited. The key levels to watch remain 24,000/76,800 on the downside and 24,350/78,300 on the upside. As long as these levels remain intact on a closing basis, stock-specific action is likely to dominate, said Shrikant Chouhan, Head of Equity Research at Kotak Securities.
"A close below 24,000/76,800 could open the doors for a decline towards 23,800/76,200, whereas a sustained move above 24,350/78,300 may pave the way for a retest of 24,500/78,700. The preferred strategy is to reduce weak long positions in the 24,350–24,450 (78,300–78,600) zone, while remaining selective in accumulating quality stocks on declines," he said.
Sensex remains in a consolidation phase following the recent sharp correction. Immediate support is placed at 76,900–77,000, and a sustained break below this zone could extend the decline towards 76,500, said Sachin Gupta, VP of Technical Research at Choice Equity Broking. "Immediate resistance is seen around 78,400–78,500, and a decisive move above this zone could revive bullish momentum."
Nifty50 remains above its key EMAs, while every corrective dip continues to attract buying interest. 24,150-24,000 is likely to cushion any shortcomings in the near period, said Osho Krishan, Chief Manager - Technical & Derivative Research at Angel One. "On the flip side, 24350-24500 is seen as the next potential resistance zone and a decisive breakthrough could only pave the way for stronger momentum."
Nifty Bank outlook Nifty Bank formed a small body bullish candle with wicks on either side, highlighting intraday indecision. Despite the choppy Intraday movement, Bank Nifty managed to hold above its 20-day EMA, keeping its short-term bullish trend intact, said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities.
"Going ahead, the immediate resistance for Bank Nifty is placed in the 58,300-58,400 zone. Any sustainable move above this zone could result in Bank Nifty extending its pullback towards 58800, followed by 59,200 in the short term. On the downside, the immediate support for Bank Nifty is placed in the 57,600-57,500 zone," it added.
Technically, the 57,500-57,350 zone, which coincides with the 200-SMA on the hourly chart and the 200-DMA, is expected to provide strong support, said Vatsal Bhuva, Technical Analyst at LKP Securities. "On the upside, 58,500 remains a key resistance level. The overall trend remains positive, and a buy-on-dips strategy continues to be the preferred approach for traders."