Stock market: Sensex, Nifty outlook for tomorrow as NSE, BSE closed today for Bakri Id

Stock market holiday 2026: Stock exchanges BSE and NSE will be shut on Thursday on account of Bakri Id. This will be the second market holiday for May after May 1, Maharashtra Day. As per exchanges, trading will remain shut across equity and equity derivatives, currency derivatives, commodity derivatives and electronic gold receipts (EGR) segments. Earlier on Wednesday, the BSE Sensex settled at 75,867.80, down 141.90 points or 0.19 per cent. Nifty settled at 23,907.15, down 6.55 points or 0.03 per cent. US markets settled higher, while Brent oil futures fell nearly 4 per cent overnight.

Ajit Mishra – SVP, Research at Religare Broking noted that India VIX, a key indicator of market fear that generally moves inversely to the broader market trend, has corrected nearly 15 per cent so far this week and is currently hovering around the 15 mark.

"This improved comfort level is yet to reflect meaningfully in benchmark index movement. While the consolidation phase in the index may continue, we reiterate maintaining a stock-specific approach based on prevailing sectoral trends, while keeping a close check on overnight risk exposure," he said.

Sensex outlook

Hitesh Tailor, Technical Research Analyst at Choice Equity Broking said Sensex is facing resistance near the 76,200–76,400 zone. Even as the BSE barometer has managed to hold above the 75,700 level, a failure to sustain higher levels suggests cautious sentiment in the short term, Tailor said.

"Immediate support is now placed around 75,000–75,200, while resistance is seen near 76,400–76,500. Sustaining above support levels may keep the broader structure stable, while a decisive breakout above resistance could trigger fresh upside momentum in upcoming sessions," Tailor said.
Shrikant Chouhan, Head Equity Research at Kotak Securities said the short-term market texture is positive, but a fresh uptrend rally is possible only after the dismissal of 76,200.

"Post a 76,200 breakout, the market could move up to 76,800-77,000. On the flip side, below the 20-day SMA (Simple Moving Average) or 75,700, selling pressure is likely to accelerate," Chouhan said.

Nifty outlook 

Nandish Shah - Deputy Vice President at HDFC Securities said Nifty is hovering around its 50-DEMA near 24,000, with the recent swing high at 24,100 acting as immediate resistance. On the downside, he believes Nifty support is seen at 23,800, where the prior breakout aligns with the 20-DEMA, while a stronger base is placed near 23,600.

"These levels are likely to guide near-term positioning until a decisive breakout provides directional clarity," Shah said.

LKP Securities' Vatsal Bhuva said technical and derivative data suggest a sideways to mildly positive trend for the upcoming sessions. "On the levels front, 23800 is likely to act as immediate support, while 24,000-24,100 remains a strong resistance zone. Positional support for the index is placed at 23,650 levels," he said.