Nifty, Sensex, Nifty Bank outlook for today: Gift Nifty up 53 points; key levels to watch
Nifty futures on the NSE International Exchange were 53.20 points, or 0.22 per cent, up at 23,914.50, hinting at a positive start for the domestic market on Friday.
- Apr 10, 2026,
- Updated Apr 10, 2026 8:20 AM IST
Indian benchmark indices are set to open on a positive note on Friday, supported by better-than-expected quarterly results from Tata Consultancy Services, even as concerns over the durability of a US–Iran ceasefire may keep risk appetite in check. Iran cited Israel's ongoing strikes on Lebanon as a key sticking point in its agreement with Washington.
Nifty futures on the NSE International Exchange were 53.20 points, or 0.22 per cent, up at 23,914.50, hinting at a positive start for the domestic market on Friday. Asian stocks ticked up early on Friday but gains were capped as traders questioned the durability of the US-Iran ceasefire. Nikkei and KOSPI gained nearly 2 per cent, while Hang Seng added nearly a per cent.
Market sentiment remains cautious amid persistent geopolitical uncertainties, elevated volatility and continued foreign fund outflows, said Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services. "While near-term support may emerge from easing West-Asia tensions and stable crude prices, the sustainability of any recovery will depend on clarity around the US–Iran situation."
US stocks advanced on Thursday as ongoing negotiations toward a peaceful resolution to the six-week Middle East conflict helped ease worries over the fragile US-Iran truce. The Dow Jones Industrial Average 275.88 points, or 0.58 per cent to 48,185.80, the S&P 500 gained 0.62 per cent to 6,824.66 and the Nasdaq Composite jumped 0.83 per cent to 22,822.42.
Oil prices rose in early trading on Friday following attacks on Saudi energy infrastructure, and as markets evaluated the risk premium from the ongoing closure of the Strait of Hormuz, despite a fragile truce agreed between the US and Iran. Brent crude futures gained 0.87 per cent to $96.75 a barrel, while West Texas Intermediate futures were 1.06 per cent, at $98.91 a barrel.
The US dollar index was up 0.1 per cent at 98.92, after data released Thursday. Bitcoin was down 0.7 per cent at $71,903.27, while ether fell a per cent lower at $2,191.81. The yield on the US 10-year Treasury bond was up 0.6 basis point at 4.285 per cent.
Focus now will be on domestic company earnings, and sectors getting impacted due to surging crude prices. Investors will wait for more clarity on whether the ceasefire will translate into meaningful discussion and help end the war before taking any major equity exposure, said Ankur Punj, MD & Business Head at Equirus Wealth.
Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 1,711.19 crore on Thursday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 955.90 crore on a net-net basis.
Nifty50 & Sensex outlook
The market consistently faced selling pressure at higher levels. It has formed a small bearish candle on daily charts, which supports weakness from the current levels. However, the short-term texture of the market is still positive, said Shrikant Chouhan, Head Equity Research at Kotak Securities.
"For day traders, 23,700-23,650/76,500-76,200 would act as key support zones, If the market succeeds in trading above these levels, it could retest the levels of 24,000/77,500-24,150/78,000. On the flip side, below 23,650/76,200, the uptrend would become vulnerable. Below this, it could slip to 23,500-23,400/75,500-75,300," he adds.
The technical structure has turned decisively bullish, marked by the invalidation of the prior lower-high formation on the daily chart. The Nifty50 index has also moved above its 20-day EMA after a prolonged decline, indicating strengthening momentum, said Angel One.
"From levels perspective, the Nifty50 has the potential resistance of 50 DEMA around 24,250-24,400 zone, where the 50-day EMA aligns with a prior bearish gap. On the downside, the substantial bullish gap between 23,500-23,800 is expected to provide strong support, cushioning any near-term volatility or profit booking following the recent sharp recovery," it added.
Nifty Bank outlook
Nifty Bank formed a bearish candle with a minor lower shadow, indicating selling pressure at higher levels, though some buying emerged near the lows. Despite the weakness, the short-term structure remains intact, said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities. "Going ahead, the 55300–55400 zone will act as an immediate resistance, while on the downside, the 54400–54300 range is expected to provide crucial support," he said.
Nifty Bank failed to sustain gains, facing continuous selling pressure that dragged it, said Hitesh Tailor, Research Analyst at Choice Broking. "A bearish piercing pattern signals near-term weakness, with resistance at 55,000–55,200, support at 54,400–54,500, and RSI at 50.46 indicating neutral momentum," it said.
Indian benchmark indices are set to open on a positive note on Friday, supported by better-than-expected quarterly results from Tata Consultancy Services, even as concerns over the durability of a US–Iran ceasefire may keep risk appetite in check. Iran cited Israel's ongoing strikes on Lebanon as a key sticking point in its agreement with Washington.
Nifty futures on the NSE International Exchange were 53.20 points, or 0.22 per cent, up at 23,914.50, hinting at a positive start for the domestic market on Friday. Asian stocks ticked up early on Friday but gains were capped as traders questioned the durability of the US-Iran ceasefire. Nikkei and KOSPI gained nearly 2 per cent, while Hang Seng added nearly a per cent.
Market sentiment remains cautious amid persistent geopolitical uncertainties, elevated volatility and continued foreign fund outflows, said Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services. "While near-term support may emerge from easing West-Asia tensions and stable crude prices, the sustainability of any recovery will depend on clarity around the US–Iran situation."
US stocks advanced on Thursday as ongoing negotiations toward a peaceful resolution to the six-week Middle East conflict helped ease worries over the fragile US-Iran truce. The Dow Jones Industrial Average 275.88 points, or 0.58 per cent to 48,185.80, the S&P 500 gained 0.62 per cent to 6,824.66 and the Nasdaq Composite jumped 0.83 per cent to 22,822.42.
Oil prices rose in early trading on Friday following attacks on Saudi energy infrastructure, and as markets evaluated the risk premium from the ongoing closure of the Strait of Hormuz, despite a fragile truce agreed between the US and Iran. Brent crude futures gained 0.87 per cent to $96.75 a barrel, while West Texas Intermediate futures were 1.06 per cent, at $98.91 a barrel.
The US dollar index was up 0.1 per cent at 98.92, after data released Thursday. Bitcoin was down 0.7 per cent at $71,903.27, while ether fell a per cent lower at $2,191.81. The yield on the US 10-year Treasury bond was up 0.6 basis point at 4.285 per cent.
Focus now will be on domestic company earnings, and sectors getting impacted due to surging crude prices. Investors will wait for more clarity on whether the ceasefire will translate into meaningful discussion and help end the war before taking any major equity exposure, said Ankur Punj, MD & Business Head at Equirus Wealth.
Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 1,711.19 crore on Thursday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 955.90 crore on a net-net basis.
Nifty50 & Sensex outlook
The market consistently faced selling pressure at higher levels. It has formed a small bearish candle on daily charts, which supports weakness from the current levels. However, the short-term texture of the market is still positive, said Shrikant Chouhan, Head Equity Research at Kotak Securities.
"For day traders, 23,700-23,650/76,500-76,200 would act as key support zones, If the market succeeds in trading above these levels, it could retest the levels of 24,000/77,500-24,150/78,000. On the flip side, below 23,650/76,200, the uptrend would become vulnerable. Below this, it could slip to 23,500-23,400/75,500-75,300," he adds.
The technical structure has turned decisively bullish, marked by the invalidation of the prior lower-high formation on the daily chart. The Nifty50 index has also moved above its 20-day EMA after a prolonged decline, indicating strengthening momentum, said Angel One.
"From levels perspective, the Nifty50 has the potential resistance of 50 DEMA around 24,250-24,400 zone, where the 50-day EMA aligns with a prior bearish gap. On the downside, the substantial bullish gap between 23,500-23,800 is expected to provide strong support, cushioning any near-term volatility or profit booking following the recent sharp recovery," it added.
Nifty Bank outlook
Nifty Bank formed a bearish candle with a minor lower shadow, indicating selling pressure at higher levels, though some buying emerged near the lows. Despite the weakness, the short-term structure remains intact, said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities. "Going ahead, the 55300–55400 zone will act as an immediate resistance, while on the downside, the 54400–54300 range is expected to provide crucial support," he said.
Nifty Bank failed to sustain gains, facing continuous selling pressure that dragged it, said Hitesh Tailor, Research Analyst at Choice Broking. "A bearish piercing pattern signals near-term weakness, with resistance at 55,000–55,200, support at 54,400–54,500, and RSI at 50.46 indicating neutral momentum," it said.