India’s benchmark stock indices, the Sensex and Nifty, are poised to kick off Friday’s trading session with a modest uptick, riding the momentum from gains in the previous session. The upswing followed reports of constructive discussions between Indian and US officials regarding a potential trade deal, fueling optimism on Dalal Street. Foreign institutional investors (FIIs) have also shifted to net buying, injecting further confidence into the market.
Analysts point to a combination of favorable domestic economic indicators, expectations of an RBI rate cut next month, and Q4FY25 data as key drivers supporting the indices’ upward trajectory. However, attention is now turning to critical US economic releases, tariff-related updates, and the resolution of the India-US trade negotiations.
What’s Ahead for Today’s Trading?
As of 7:30 am, the Gift Nifty stood at 23,751.50, down a slight 0.1%, suggesting a day of consolidation with a mildly positive tilt. Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, highlighted the market’s focus on upcoming events. “The spotlight is on US inflation data and tariff decisions, with Nifty facing significant resistance at its 200-day moving average near 24,081,” he said.
Meanwhile, Bajaj Broking observed that the Nifty50’s recent bull candle signals sustained buying interest around the bullish gap zone of 23,402-23,433 from Monday. The brokerage anticipates the index to hover between 23,850 and 23,200 over the next few sessions, easing the overbought pressure in the daily stochastic following a sharp 1,900-point rally over 15 sessions. “Support lies at 23,200-23,000, aligning with the 50-day EMA and a recent breakout zone,” it noted.
Bajaj Broking remains bullish on the broader trend, suggesting that this pause offers a chance to invest in strong stocks incrementally. “We foresee an advance toward 24,100-24,200 in the coming weeks, matching January 2025 highs and the 50% retracement of the prior drop from 26,277 to 21,965,” the firm added. With trade talks and tariffs in focus, today’s session could set the tone for the market’s next move.