Nifty, Sensex, Nifty Bank outlook for today: GIFT Nifty down 208 pts; key levels to watch
GIFT Nifty Futures on the NSE International Exchange were 207.90 points, or 0.86 per cent, up at 24,034, hinting at a negative start for the domestic market on Monday.
- Jul 13, 2026,
- Updated Jul 13, 2026 8:13 AM IST
Indian equity indices are expected to open lower on Monday, as renewed fighting in the Middle East and Iran's claim to have closed the vital Strait of Hormuz pushed crude oil prices higher. US and Iranian forces exchanged heavy missile and drone assaults, with Tehran targeting US facilities in states across the Gulf on Sunday. The renewed violence casts doubt the US-Iranian agreement.
Indian equity markets are expected to sustain their gradual upmove on the back of supportive domestic fundamentals and improving global cues, said Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services. "Sentiment are further boosted after India and Australia signed 18 agreements, strengthening the long-term outlook for the sector," he added.
GIFT Nifty, Asian markets & US stocks GIFT Nifty Futures on the NSE International Exchange were 207.90 points, or 0.86 per cent, up at 24,034, hinting at a negative start for the domestic market on Monday. Share markets slid in Asia on Monday as fighting intensified in the Gulf. KOSPI crashed more than 5 per cent, while Nikkei dropped 1.5 per cent. Hang Seng gained nearly half a per cent.
The US stocks ended higher on Friday as investors looked ahead to quarterly earnings season kicking off. The S&P 500 climbed 0.42 per cent to end the session at 7,575.39 points. The Nasdaq gained 0.29 per cent to 26,281.61 points, while the Dow Jones Industrial Average rose 0.29 per cent to 52,637.01 points.
Crude, US dollar, gold & more Brent crude climbed 4.1 per cent to reach $79.11 a barrel, up from the recent trough of $70.14, while US crude added 4.1 per cent to $74.37 a barrel. The spike in oil pushed 2-year Treasury yields to their highest since early 2025 at 4.2393 per cent and that in-turn kept the dollar index firm at 101.13. The rise in yields weighed on non-interest bearing gold which slipped 1.1 per cent to $4,076.
While near-term volatility may persist due to developments in West Asia and fluctuations in crude oil prices, the underlying domestic fundamentals remain supportive. Investors should maintain disciplined position sizing, avoid excessive leverage, and adhere to prudent risk management practices, said Ajit Mishra, SVP of Research at Religare Broking.
FII-DII flows Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 2,603.72 crore on Friday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 2,019.68 crore on a net-net basis. FPIs turned net buyers of Indian equities in July, pouring over Rs 15,157 crore in July so far, after four months of selling.
A significant trend in FPI inflows into India is the steadily increasing share of debt flows, said Dr VK Vijayakumar, Chief Investment Strategist at Geojit Investments. "The changes made by the government in taxation of debt investment have made debt investment in India attractive for FPIs. This also is an important factor contributing to the stability in rupee."
Nifty50, Sensex & India VIX outlook The market found support near the 50-day SMA at 23,800/76,100 and bounced back sharply. The short-term market texture is volatile and non-directional. hence, level-based trading would be the ideal strategy for traders. On the downside, the 20-day SMA at 24,000/77,000 would act as a key support zone, said Amol Athawale, VP of Technical Research at Kotak Securities.
"An uptrend may continue. On the higher side, the market could move up to 24,400-24,500/78,000-78,300. Upside may continue, potentially lifting the market to 24,700/78,700. On the flip side, if the market falls below 24,000/77,000, it could retest the levels of 23,800/76,100 or the 50-day SMA. Below 23,800/76,100, the chances of hitting 23,600-23,500/75,600-75,500 would increase," he said.
Nifty50 has formed a doji-like candlestick pattern on the weekly chart, indicating indecision as the index continues to trade within a well-defined sideways range. The MACD remains in positive territory with the MACD line trading above the signal line, although the narrowing, said Choice Equity Broking.
"On the upside, immediate resistance levels are placed at 24,500 and 24,600. A sustained move above this zone could trigger fresh buying momentum and pave the way for further upside. On the downside, support is placed at 23,800 and 23,700. A decisive breakdown below these levels may weaken the near-term structure and invite renewed selling pressure," he added.
"India VIX has slipped further below its 200-day moving average, indicating easing fear in the market. Overall, the near-term sentiment remains favourable for the bulls," said Rupak De, Senior Technical Analyst at LKP Securities. "On the upside, immediate resistance is seen at 24,500, while on the downside, strong support is placed at 24,000."
Nifty Bank outlook Nifty Bank continues to trade comfortably above its key moving averages from a technical perspective, which maintain a positive upward slope. Moreover, the daily RSI is on the verge of crossing the 60 level, indicating improving bullish momentum, said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities.
"The immediate hurdle for the index is placed in the 58,500-58,600 zone. A sustained breakout above 58,600 could pave the way for a rally towards 59,200. On the downside, the 57,400-57,300 zone, coinciding with the 20-day EMA, is expected to offer strong support and keep the broader bullish structure intact," he said.
Nifty Bank formed a second bullish candlestick pattern with a higher high and a higher low signaling pullback for the second session. Index in the process closed above Wednesday gap down area signaling strength in banking stocks. Going ahead index to consolidate in the range of 56,500–58,700, said Bajaj Broking Research.
"A weakness below lows of 56,550 will open downside towards the key short-term support of 55,500-55,000. On the higher side, a move above 58,700 being the last swing high will signal resumption of the up-move towards 59,200 and 60,000 level in the coming weeks, being the 138.2 per cent and 150 per cent external retracement of the previous decline from 57,456 to 52,783," it adds.
Indian equity indices are expected to open lower on Monday, as renewed fighting in the Middle East and Iran's claim to have closed the vital Strait of Hormuz pushed crude oil prices higher. US and Iranian forces exchanged heavy missile and drone assaults, with Tehran targeting US facilities in states across the Gulf on Sunday. The renewed violence casts doubt the US-Iranian agreement.
Indian equity markets are expected to sustain their gradual upmove on the back of supportive domestic fundamentals and improving global cues, said Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services. "Sentiment are further boosted after India and Australia signed 18 agreements, strengthening the long-term outlook for the sector," he added.
GIFT Nifty, Asian markets & US stocks GIFT Nifty Futures on the NSE International Exchange were 207.90 points, or 0.86 per cent, up at 24,034, hinting at a negative start for the domestic market on Monday. Share markets slid in Asia on Monday as fighting intensified in the Gulf. KOSPI crashed more than 5 per cent, while Nikkei dropped 1.5 per cent. Hang Seng gained nearly half a per cent.
The US stocks ended higher on Friday as investors looked ahead to quarterly earnings season kicking off. The S&P 500 climbed 0.42 per cent to end the session at 7,575.39 points. The Nasdaq gained 0.29 per cent to 26,281.61 points, while the Dow Jones Industrial Average rose 0.29 per cent to 52,637.01 points.
Crude, US dollar, gold & more Brent crude climbed 4.1 per cent to reach $79.11 a barrel, up from the recent trough of $70.14, while US crude added 4.1 per cent to $74.37 a barrel. The spike in oil pushed 2-year Treasury yields to their highest since early 2025 at 4.2393 per cent and that in-turn kept the dollar index firm at 101.13. The rise in yields weighed on non-interest bearing gold which slipped 1.1 per cent to $4,076.
While near-term volatility may persist due to developments in West Asia and fluctuations in crude oil prices, the underlying domestic fundamentals remain supportive. Investors should maintain disciplined position sizing, avoid excessive leverage, and adhere to prudent risk management practices, said Ajit Mishra, SVP of Research at Religare Broking.
FII-DII flows Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 2,603.72 crore on Friday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 2,019.68 crore on a net-net basis. FPIs turned net buyers of Indian equities in July, pouring over Rs 15,157 crore in July so far, after four months of selling.
A significant trend in FPI inflows into India is the steadily increasing share of debt flows, said Dr VK Vijayakumar, Chief Investment Strategist at Geojit Investments. "The changes made by the government in taxation of debt investment have made debt investment in India attractive for FPIs. This also is an important factor contributing to the stability in rupee."
Nifty50, Sensex & India VIX outlook The market found support near the 50-day SMA at 23,800/76,100 and bounced back sharply. The short-term market texture is volatile and non-directional. hence, level-based trading would be the ideal strategy for traders. On the downside, the 20-day SMA at 24,000/77,000 would act as a key support zone, said Amol Athawale, VP of Technical Research at Kotak Securities.
"An uptrend may continue. On the higher side, the market could move up to 24,400-24,500/78,000-78,300. Upside may continue, potentially lifting the market to 24,700/78,700. On the flip side, if the market falls below 24,000/77,000, it could retest the levels of 23,800/76,100 or the 50-day SMA. Below 23,800/76,100, the chances of hitting 23,600-23,500/75,600-75,500 would increase," he said.
Nifty50 has formed a doji-like candlestick pattern on the weekly chart, indicating indecision as the index continues to trade within a well-defined sideways range. The MACD remains in positive territory with the MACD line trading above the signal line, although the narrowing, said Choice Equity Broking.
"On the upside, immediate resistance levels are placed at 24,500 and 24,600. A sustained move above this zone could trigger fresh buying momentum and pave the way for further upside. On the downside, support is placed at 23,800 and 23,700. A decisive breakdown below these levels may weaken the near-term structure and invite renewed selling pressure," he added.
"India VIX has slipped further below its 200-day moving average, indicating easing fear in the market. Overall, the near-term sentiment remains favourable for the bulls," said Rupak De, Senior Technical Analyst at LKP Securities. "On the upside, immediate resistance is seen at 24,500, while on the downside, strong support is placed at 24,000."
Nifty Bank outlook Nifty Bank continues to trade comfortably above its key moving averages from a technical perspective, which maintain a positive upward slope. Moreover, the daily RSI is on the verge of crossing the 60 level, indicating improving bullish momentum, said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities.
"The immediate hurdle for the index is placed in the 58,500-58,600 zone. A sustained breakout above 58,600 could pave the way for a rally towards 59,200. On the downside, the 57,400-57,300 zone, coinciding with the 20-day EMA, is expected to offer strong support and keep the broader bullish structure intact," he said.
Nifty Bank formed a second bullish candlestick pattern with a higher high and a higher low signaling pullback for the second session. Index in the process closed above Wednesday gap down area signaling strength in banking stocks. Going ahead index to consolidate in the range of 56,500–58,700, said Bajaj Broking Research.
"A weakness below lows of 56,550 will open downside towards the key short-term support of 55,500-55,000. On the higher side, a move above 58,700 being the last swing high will signal resumption of the up-move towards 59,200 and 60,000 level in the coming weeks, being the 138.2 per cent and 150 per cent external retracement of the previous decline from 57,456 to 52,783," it adds.