Nifty 50, Sensex today: What to expect from Indian stock market in trade on May 29 after Trump’s tariffs blocked
Nifty 50, Sensex today: Nifty 50 index formed a red candle on the daily chart, indicating weakness.
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Nifty 50, Sensex today: The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 24,843 level, a premium of nearly 80 points from the Nifty futures’ previous close
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Thursday, tracking positive cues from global markets.
The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 24,843 level, a premium of nearly 80 points from the Nifty futures’ previous close.
Sentiment in the global markets improved after the Manhattan-based Court of International Trade blocked President Donald Trump from imposing tariffs on countries under emergency powers law.
On Wednesday, the domestic equity market ended lower for the second consecutive session, with the benchmark Nifty 60
The Sensex dropped 239.31 points, or 0.29%, to close at 81,312.32, while the Nifty 50 settled 73.75 points, or 0.30%, to lower at 24,752.45.
Here’s what to expect from Sensex, Nifty 50 and Bank Nifty today:
Sensex Prediction
Sensex hovered between 81,200 and 81,600 on Wednesday and formed a small bearish candle on daily charts, which indicates indecisiveness between the bulls and the bears.
“We believe that the intraday market texture is non-directional; perhaps traders are waiting for a breakout on either side. For day traders, now, 81,600 would be the immediate breakout level. Above this, Sensex is likely to retest the levels of 82,100 – 82,500. On the other hand, below 81,200 could accelerate selling pressure, with support levels at 80,800 – 80,400,” said Shrikant Chouhan, Head Equity Research, Kotak Securities.
Nifty OI Data
In the derivatives space, the highest Call open interest (OI) was at the 25,000 strike, while the highest Put OI stood at 24,500, suggesting a likely near-term range between 24,500 and 25,000. Market participants should continue monitoring global cues and domestic macro data for further direction, said Mandar Bhojane, Equity Research Analyst at Choice Broking
Nifty 50 Prediction
Nifty 50 declined 0.30% to end at 24,752.45 on May 28, forming a modest bearish candle.
“Nifty 50 failed to reclaim the 9 EMA and drifted closer to the 20 EMA, reflecting sustained selling pressure at higher levels. A double top pattern has emerged near the 25,000 zone, where the index has repeatedly faced rejection. However, Nifty 50 has not yet breached the recent swing low of 24,460, but weakness still persists. The 23.6 percent Fibonacci retracement, placed near 24,312, may serve as a meaningful support if the decline deepens,” said Om Mehra, Technical Research Analyst, SAMCO Securities.
According to him, a decisive move above the 25,000 - 25,020 is still essential for the continuation of bullish set up. Until that occurs, the index remains vulnerable to further downside. The current tone appears cautious, with neither the bulls nor the bears taking full control.
2025-05-29
By
Anushka Tripathi
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