Nifty, Sensex, Nifty Bank outlook for today: GIFT Nifty up 5 points; key levels to watch

Indian equity markets are set to open on a steady note, supported by firm regional cues, although investors are likely to remain selective as geopolitical developments and global macroeconomic expectations continue to shape risk sentiment.  Improving risk appetite across global financial markets and encouraging flows into emerging-market assets also provide support. Indian equities are expected to trade with a positive bias next week, supported by resilient domestic fundamentals, easing geopolitical concerns and continued stock-specific opportunities as the Q1FY27 earnings season enters its final leg, 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 4.50 points, or 0.02 per cent, up at 24,659.50, hinting at a muted start for the domestic market on Monday. Asian share markets rose on Monday after a soft US jobs report pared the risk of ​a near-term rise in borrowing costs. Nikkei jumped nearly 2 per cent, while Hang Seng and KOSPI were up half to a per cent each. US stocks advanced on Friday after data showed the US economy unexpectedly shed ‌jobs last month and dampened expectations the US Fed would raise interest rates at its September meeting. The Dow Jones Industrial Average rose 0.28 per cent to 54,036.93, the S&P 500 jumped 0.62 per cent, to 7,757.64 and the Nasdaq ​Composite gained 1.30 per cent to ​26,690.62.Crude, US dollar, gold & more Lack of progress in Gulf peace talks saw oil prices ‌creep higher. Brent crude added 0.9 per cent to $84.32 a barrel as shipping through the vital waterway ​remained at a trickle, while US crude rose 0.7 per cent to $78.74 a barrel. In commodity markets, the drop ​in yields helped non-interest-paying gold hold at $4,342 an ounce. The dollar index was little changed at 99.6. Investors may remain cautious amid evolving geopolitical developments in West Asia and fluctuations in crude oil prices, said Ajit Mishra, SVP of Research at Religare Broking. "Maintaining disciplined position sizing and prudent risk management will remain essential, given the potential for heightened volatility arising from geopolitical developments, macroeconomic data and earnings."FII-DII flows Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 480.24 crore on Friday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 235.56 crore on a net-net basis. FPIs remained net buyers of Indian equities in first week of August, pouring in Rs 12,921 crore in the local equities. Overseas investors remained net buyers for the second consecutive week. The sustained buying by both FIIs and DIIs was largely driven by the de-escalation of geopolitical tensions, which helped strengthen investor confidence and supported positive market sentiment, said Pabitro Mukherjee, Deputy Vice President of Research at Bajaj Broking.  

Nifty50 & Sensex outlook The market has formed a Doji candlestick pattern on weekly charts, and it is witnessing a range-bound formation on intraday charts, indicating indecisiveness between the bulls and bears. The short-term market outlook remains positive, but a fresh uptrend rally is possible only after the dismissal of 24,700/79,100, said Amol Athawale, VP of Technical Research at Kotak Securities. "Above this level, the market could move up to the 200-day SMA or 24,800-24,850/80,000-80,200. Upside move could continue, lifting the market to 25,000-25,100/80,600-80,900. On the downside, below 24,600-78,400, the market could retest levels of 24,500-24,450/78,100-77,900. A breakdown of 24,450/77,900 could accelerate selling pressure, and it could slip to 24,200/77,200," he adds. Sensex formed a bearish candlestick, reflecting near-term profit booking. It continues to trade above its key EMA, indicating that the broader trend remains positive, said Hitesh Tailor, Technical Research Analyst at Choice Equity Broking. "The RSI stands at 58.68, suggesting momentum continues to favour the bulls despite the day's weakness. Immediate support is placed at 77,900–78,100, while 78,800–79,000 remains the immediate resistance zone." Nifty repeatedly faced resistance, with buying momentum fading at higher levels. On the downside, 24,600 acted as a crucial support throughout the session, said Rupak De, Senior Technical Analyst at LKP Securities. "As long as the Nifty sustains above 24,600, it has the potential to move towards 24,800. A sustained breakout above 24,800 could trigger a fresh directional rally."Nifty Bank outlook Nifty Bank has been consolidating within the 58,248–57,353 range. Despite the consolidation, it has managed to hold above its 20-day EMA. The ADX has remained flat since the beginning of August, indicating a lack of strong directional momentum in the index, said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities. "Going ahead, the immediate resistance for Bank Nifty is placed in the 58,200-58,300 zone. Any sustainable move above this zone could result in Bank Nifty extending its pullback towards 58,700, followed by 59,100 in the short term. On the downside, the immediate support for Bank Nifty is placed in the 57,300-57,200 zone," he adds. Bank Nifty is consolidating above its key moving averages, indicating a positive underlying structure. However, the 58,300–58,600 zone remains a critical resistance area. A decisive breakout above this zone could open a rally towards 59,000–59,300. On the downside, 57,500 will be the immediate support, followed by 56,800–56,500, said Santosh Meena, Head of Research at Swastika Investmart.