The Indian stock market is expected to open higher on Tuesday, taking cues from strong performance in Asian markets. Trends from Gift Nifty suggest a gap-up opening, with the index trading around 23,543, indicating a 101-point premium over the previous Nifty futures close.

 

Market Recap & Key Levels

 

On Monday, the stock market ended lower:

•Sensex fell 319.22 points (0.41%), closing at 77,186.74.

•Nifty 50 dropped 121.10 points (0.52%), settling at 23,361.05.

However, Nifty formed a bullish hammer candle, a potential sign of trend reversal.

 

Sensex Outlook

 

Experts suggest that the market remains volatile and level-based trading is the best strategy.

•Key support levels: 77,000 & 76,800

•Resistance zones: 77,500 & 77,800

If Sensex falls below 76,800, it could drop further to 76,500.

 

Nifty 50 Trends

•Call option resistance: 23,500 & 23,600

•Put option support: 23,300

This suggests Nifty 50 could rise if it stays above 23,500.