Indian Stock Market Outlook: Nifty and Sensex Poised for a Steady Start Amid Israel–Hamas Peace Hopes
On Thursday, October 9, Indian markets seem poised for a cautiously optimistic start. After days of geopolitical tensions, reports suggesting Israel and Hamas may be close to a ceasefire have ignited hope globally—and in turn offered some support to Indian equities. The Gift Nifty futures signal a positive opening, with a premium above the Nifty’s previous close.
That said, the domestic indices ended mixed on Wednesday. The Sensex slipped 0.19% to about 81,774, while the Nifty 50 fell 0.25% to 25,046, reflecting investors booking profits after recent gains. Technical analysts point to reversal patterns and long upper shadows in the daily charts, hinting at short-term weakness or corrections.
Looking ahead, the Nifty is likely to oscillate between 25,000–25,450 in the near term. Its immediate resistance lies around 25,150–25,200, while the support is expected near 24,900–24,950. For Sensex, the key thresholds are 82,000 on the upside and around 81,300–81,500 on the downside. The Bank Nifty, which showed signs of indecision, may consolidate between 55,500 and 56,300 unless it decisively breaks higher.
In essence, though the broader trend retains a constructive tone, Friday’s session may reflect a market in balance—supportive global cues tempered by domestic technical caution. Traders may find range-bound or level-based strategies more suitable until directional clarity returns.
