Stock market today: Gift Nifty down 22 pts; levels to watch for Nifty, Sensex & Nifty Bank
Nifty futures on the NSE International Exchange traded 21.70 points, or 0.09 per cent, down at 25,256, hinting at a muted start for the domestic market on Tuesday.
- Sep 23, 2025,
- Updated Sep 23, 2025 8:11 AM IST
Indian equity benchmarks indices are set to open little changed on Tuesday, mostly on a flat note, as optimism over progress in trade talks with the United States helped balance concerns about steep H-1B visa fees. Traders will be watching trade deal progress between the US and India.
Nifty futures on the NSE International Exchange traded 21.70 points, or 0.09 per cent, down at 25,256, hinting at a muted start for the domestic market on Tuesday. Asian share markets looked to build on recent hefty gains on Tuesday. Nikkei jumped nearly a per cent, while Hang Seng was trading down. KOSPI gained one-third a per cent.
The new US executive order intensifies margin pressure for Indian IT. Markets are expected to remain range-bound near term, with festive demand and GST 2.0 benefits emerging as key triggers to watch, said Vikram Kasat, Head of Advisory at PL Capital.
All three major US stock indexes registered record closing highs for a third straight session on Monday. The Dow Jones Industrial Average rose 66.27 points, or 0.14 per cent, to 46,381.54, the S&P 500 gained 29.39 points, or 0.44 per cent, to 6,693.75 and the Nasdaq Composite rose 157.50 points, or 0.70 per cent, to 22,788.98.
In currency markets, the dollar continued its recent see saw pattern, easing overnight after three sessions of gains. The greenback edged lower, extending declines after snapping a three-day winning streak on Monday, with the US dollar index last at 97.28.
In commodity markets, oil prices were restrained as concerns of an oversupply outweighed geopolitical tensions in Russia and the Middle East. Brent eased 0.2 per cent to $66.46 a barrel, while US crude dipped 0.1 per cent to $62.21 per barrel. Gold hit a fresh record at $3,755.47 per ounce, to nearly 9 per cent higher for the month so far.
Focus will be on Commerce Minister Piyush Goyal’s visit to the US on September 22 for trade deal negotiations—the first since the Trump administration imposed 50 per cent tariffs, said Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services. "After the recent run-up, equities are likely to consolidate, tracking developments on this front," he said.
Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 2,910.09 crore on Monday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 2,582.63 crore on a net-net basis.
Nifty & Sensex outlook
We are of the view that as long as market is trading above 25300/82500 the weak sentiment is likely to continue. On the down side, it could slip till 25,100-25,050/82,000-81,700, said Shrikant Chouhan, Head Equity Research at Kotak Securities.
On the flip side, 25,300/82,500 would act as a crucial resistance zone for day traders. If the market manages to trade above this level, it could move up to 25,400–25,425/82,800-83,000. The current market texture is volatile; hence, level-based trading would be the ideal strategy for day traders, he said.
Technical indicators suggest waning bullish momentum, as the daily RSI slipped below the 60 mark and continues to trend downward. The zone of 25080-25050 will act as immediate support for Nifty50 as the 38.2 per cent Fibonacci retracement level of its recent upward move is placed in that region, said Sudeep Shah, Head of Technical Research and Derivatives at SBI Securities.
"While, on the upside, the zone of 25330-25350 will act as a crucial hurdle for the index. Any sustainable move above the level of 25350 will lead to resume its northward journey. In that case, the index is likely to test the level of 25500 in the short term," he said.
Nifty Bank outlook
Given the stretched near-term momentum indicators, a phase of consolidation appears likely within the 56,000–54,700 zone. Immediate support is placed at 54,700 levels being the confluence of the last week low and 20 days EMA. While key support is placed at 54,000 levels being the key retracement of the entire decline, said Bajaj Broking.
"We maintain a constructive view and believe the ongoing corrective pullback presents a tactical buying opportunity. On the upside, the index faces initial resistance at the 56,000 zone. A sustained breakout above this supply zone could trigger a fresh leg of momentum, potentially opening the gates for a move towards the 57,000 marks in the coming weeks," it said.
Nifty Bank formed a red candle, reflecting continued weakness. On the higher side, the immediate resistance is placed around 56,000–56,160, where major supply levels are observed, said Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C Mehta Investment Interrmediates. "On the downside, immediate support is placed near 55,085, followed by 54,800."
Indian equity benchmarks indices are set to open little changed on Tuesday, mostly on a flat note, as optimism over progress in trade talks with the United States helped balance concerns about steep H-1B visa fees. Traders will be watching trade deal progress between the US and India.
Nifty futures on the NSE International Exchange traded 21.70 points, or 0.09 per cent, down at 25,256, hinting at a muted start for the domestic market on Tuesday. Asian share markets looked to build on recent hefty gains on Tuesday. Nikkei jumped nearly a per cent, while Hang Seng was trading down. KOSPI gained one-third a per cent.
The new US executive order intensifies margin pressure for Indian IT. Markets are expected to remain range-bound near term, with festive demand and GST 2.0 benefits emerging as key triggers to watch, said Vikram Kasat, Head of Advisory at PL Capital.
All three major US stock indexes registered record closing highs for a third straight session on Monday. The Dow Jones Industrial Average rose 66.27 points, or 0.14 per cent, to 46,381.54, the S&P 500 gained 29.39 points, or 0.44 per cent, to 6,693.75 and the Nasdaq Composite rose 157.50 points, or 0.70 per cent, to 22,788.98.
In currency markets, the dollar continued its recent see saw pattern, easing overnight after three sessions of gains. The greenback edged lower, extending declines after snapping a three-day winning streak on Monday, with the US dollar index last at 97.28.
In commodity markets, oil prices were restrained as concerns of an oversupply outweighed geopolitical tensions in Russia and the Middle East. Brent eased 0.2 per cent to $66.46 a barrel, while US crude dipped 0.1 per cent to $62.21 per barrel. Gold hit a fresh record at $3,755.47 per ounce, to nearly 9 per cent higher for the month so far.
Focus will be on Commerce Minister Piyush Goyal’s visit to the US on September 22 for trade deal negotiations—the first since the Trump administration imposed 50 per cent tariffs, said Siddhartha Khemka, Head of Research at Motilal Oswal Financial Services. "After the recent run-up, equities are likely to consolidate, tracking developments on this front," he said.
Provisional data available with NSE suggest that FPIs turned net sellers of domestic stocks to the tune of Rs 2,910.09 crore on Monday. On the other hand, domestic institutional investors (DIIs) turned buyers of Indian equities to the tune of Rs 2,582.63 crore on a net-net basis.
Nifty & Sensex outlook
We are of the view that as long as market is trading above 25300/82500 the weak sentiment is likely to continue. On the down side, it could slip till 25,100-25,050/82,000-81,700, said Shrikant Chouhan, Head Equity Research at Kotak Securities.
On the flip side, 25,300/82,500 would act as a crucial resistance zone for day traders. If the market manages to trade above this level, it could move up to 25,400–25,425/82,800-83,000. The current market texture is volatile; hence, level-based trading would be the ideal strategy for day traders, he said.
Technical indicators suggest waning bullish momentum, as the daily RSI slipped below the 60 mark and continues to trend downward. The zone of 25080-25050 will act as immediate support for Nifty50 as the 38.2 per cent Fibonacci retracement level of its recent upward move is placed in that region, said Sudeep Shah, Head of Technical Research and Derivatives at SBI Securities.
"While, on the upside, the zone of 25330-25350 will act as a crucial hurdle for the index. Any sustainable move above the level of 25350 will lead to resume its northward journey. In that case, the index is likely to test the level of 25500 in the short term," he said.
Nifty Bank outlook
Given the stretched near-term momentum indicators, a phase of consolidation appears likely within the 56,000–54,700 zone. Immediate support is placed at 54,700 levels being the confluence of the last week low and 20 days EMA. While key support is placed at 54,000 levels being the key retracement of the entire decline, said Bajaj Broking.
"We maintain a constructive view and believe the ongoing corrective pullback presents a tactical buying opportunity. On the upside, the index faces initial resistance at the 56,000 zone. A sustained breakout above this supply zone could trigger a fresh leg of momentum, potentially opening the gates for a move towards the 57,000 marks in the coming weeks," it said.
Nifty Bank formed a red candle, reflecting continued weakness. On the higher side, the immediate resistance is placed around 56,000–56,160, where major supply levels are observed, said Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C Mehta Investment Interrmediates. "On the downside, immediate support is placed near 55,085, followed by 54,800."