Nifty 50, Sensex today: What to expect from Indian stock market in trade on September 1 amid Trump tariffs, SCO Summit

The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open marginally higher on Monday amid mixed global market cues and cautious sentiment. Investors will assess the developments in India and China relations.

The trends on Gift Nifty also indicate a mildly positive start for the Indian benchmark index. The Gift Nifty was trading around 24,603 level, a premium of nearly 35 points from the Nifty futures’ previous close.

On Friday, the domestic equity market extended its losing streak for the third consecutive session, with the benchmark Nifty 50 closing below 24,500 level.

The Sensex dropped 270.92 points, or 0.34%, to close at 79,809.65, while the Nifty 50 settled 74.05 points, or 0.30%, lower at 24,426.85.

Here’s what to expect from Sensex, Nifty 50, and Bank Nifty today:

Sensex Prediction

Sensex has formed a long bearish candle and also a lower top formation on the weekly charts, which is largely negative.

“We are of the view that the market’s short-term outlook remains weak, but a fresh selloff is possible only if the level of 79,700 is breached. On the other hand, above 80,500, the pullback rally could continue up to the 20-day SMA (Simple Moving Average) or 81,000 and 81,300. On the downside, if Sensex falls below 79,700, it could slip to the 200-day SMA or around 78,900,” said Amol Athawale, VP technical Research, Kotak Securities.

He believes further downside may also continue, which could drag the index down to 78,400.

Nifty OI Data

On the derivatives front, heavy Nifty Call OI (Open Interest) at 24,600 – 24,500 is likely to cap the upside, while Put OI at 24,400 may provide near-term support. The broader setup remains sideways to cautiously bearish, with the index stuck between key support and resistance zones, said Choice Broking.

Nifty 50 Prediction

Nifty 50 declined 1.78% last week, and has dropped 1.59% in August. The index formed an inverted hammer, a bearish candlestick pattern, on the daily chart, indicating sustained selling pressure at higher levels.

“A small negative candle was formed on the daily chart with a long upper shadow. Technically, this market action indicates weak bounce and sell on rise in the market. Hence, one may expect some more weakness in the coming week. Nifty 50 is nearing a crucial lower support around 24,300 – 24,200 levels (previous swing low and 200day EMA), but a sustainability above the said support could be doubtful,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

Hence, he believes a decisive move below 24,200, the Nifty 50 could slide down to the next lows of around 24,000 – 23.900 levels in the near term. However, a strong upside momentum above the hurdle of 24,700 could change the sentiment in favor of bulls.

Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research), Centrum Broking Ltd said that the Nifty 50 index has slipped below all key short-term moving averages, while momentum indicators have turned negative on both daily and weekly charts.

“Despite being in oversold territory, there are still no signs of short covering, suggesting that the weakness may persist for some more time. On the downside, the 200-DMA at 24,070 acts as a crucial support, while on the upside, the 100-DMA at 24,700 remains an important resistance,” said Jain.

According to Om Ghawalkar, Market Analyst, Share.Market, the near-term market tone appears cautious, though stability could emerge if global sentiment steadies.

“For the Nifty 50, support is seen at 24,000 to 24,350, while resistance stands at 25,000, with a breakout potentially opening 25,150 to 25,250. Sustained rebounds will likely depend on broader participation, especially from the banking sector,” Ghawalkar said.

Bank Nifty Prediction

Bank Nifty index declined 164.70 points, or 0.31%, to close at 53,655.65 on Friday, forming a bearish candle on the daily chart. For the week, the index slipped 2.71%.

“The Bank Nifty index is now trading just above its 200-day EMA at 53,572. Interestingly, while the Nifty 50 is yet to fill the 215-point gap created between 9th and 12th May 2025, the Bank Nifty has already filled its corresponding 507-point gap from the same period. Momentum indicators continue to signal weakness. The RSI remains in bearish territory and is trending lower, while the daily MACD stays negative, quoting below both its zero line and signal line,” said Sudeep Shah, Head – Technical Research and Derivatives at SBI Securities.

Looking ahead, he believes the 53,500 – 53,400 zone will act as crucial support, while a sustained move below 53,400 could trigger a sharper decline towards 52,900, followed by 52,500 in the short term. On the upside, the 54,400 – 54,500 zone will serve as key resistance.

Om Mehra, Technical Research Analyst, SAMCO Securities said that the Bank Nifty remains below all short-term moving averages, while the 200-SMA at 52,900 now stands as the crucial support if the decline stretches further.

“The immediate support is placed at 53,483, and a close below this zone could accelerate the fall toward the 200-SMA. On the upside, resistance lies at 54,000, which must be reclaimed for any signs of stability. The stance remains sell on rise, as oversold readings alone are unlikely to drive a reversal unless the index decisively reclaims levels above 54,400,” said Mehra.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.