Breaking Update: Here’s a clear explanation of the latest developments related to Breaking News:Nifty 50, Sensex today: What to expect from Indian stock market in trade on February 2– What Just Happened and why it matters right now.
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Monday and stabilize from the steep fall seen in the previous session, amid mixed global market cues.
The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 24,875 level, a premium of nearly 22 points from the Nifty futures’ previous close.
On Sunday, the Indian stock market ended sharply lower in the special trading session after the announcement of the Budget 2026. The proposal by Finance Minister Nirmala Sitharaman in her Budget speech to increase the Securities Transaction Tax (STT) on F&O trading rattled markets.
On Sunday, the Indian stock market ended sharply lower in the special trading session after the announcement of the Budget 2026.
The Sensex crashed 1,546.84 points, or 1.88%, to close at 80,722.94, while the Nifty 50 settled 495.20 points, or 1.96%, lower at 24,825.45.
Here’s what to expect from Sensex, Nifty 50, and Bank Nifty today:
Sensex Prediction
Sensex formed a long bearish candle on daily charts, and is currently trading below the 200-day SMA (Simple Moving Average), which is largely negative.
“We are of the view that the short-term market texture is volatile, and volatility is likely to continue in the near future. Hence, level-based trading would be the ideal strategy for day traders. On the higher side, 81,300 would act as a crucial resistance zone. As long as Sensex is trading below this level, weak sentiment is likely to prevail,” said Shrikant Chouhan, Head Equity Research, Kotak Securities.
On the downside, he expects the correction wave to continue till 80,100 – 79.900, and further downside may also continue which could drag Sensex till 79,600 – 79,000. On the flip side, above 81,300, the index could move up to 81,900 or 200day SMA.
Nifty 50 Prediction
Nifty 50 formed a long bear candle on the daily chart with lower shadow.
“Technically, this market action indicates a decisive break down of the crucial support at 25,000 levels. This is not a good sign. The negative chart pattern like lower tops and bottoms is intact on the daily chart and present weakness could be in line with the formation of new lower bottom, which needs to be confirmed,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.
According to him, the next lower support for Nifty 50 to be watched is at 24,500 – 24,400 and immediate resistance is placed around 24,900 – 25,000 levels.
Ponmudi R, CEO of Enrich Money noted that Nifty 50 is now consolidating below its earlier breakdown area, indicating a clear sell-on-rallies structure in the near term.
“As long as Nifty 50 remains below the 25,200 – 25,300 resistance band, the bias stays cautious to bearish. Only a sustained move back above 25,300 would neutralise the negative undertone and signal short-term stabilisation,” said Ponmudi R.
Bank Nifty Prediction
Bank Nifty index ended 1,193.25 points, or 2.00%, lower at 58,417.20 on Sunday, forming a bearish candle with a lower shadow on the daily chart, highlighting heavy intraday volatility followed by marginal recovery attempts.
“Bank Nifty index slipped below both its 20-day and 50-day EMA, signalling a weakening short term trend. Intraday selling dragged the index to a low of 57,783, from where it managed to stage a mild pullback. Going forward, the zone of 57,800 – 57,700 is expected to offer immediate support,” said Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities.
He believes a sustained move below 57,700 may intensify the downside and pave the way for further correction toward 57,200, followed by 56,500 in the short term. On the upside, the 50 day EMA zone of 59,000 – 59,100 will act as a crucial resistance area.
Ponmudi R highlighted that the Bank Nifty index slipped below multiple key supports with firm bearish price action, signalling a transition into a corrective phase.
“Rejection near the 59,800 – 60,000 supply zone further reinforced seller dominance. The drift towards the 58,600 – 58,500 region keeps downside risks elevated if buying support does not emerge. Overall, the structure remains weak to bearish. Bank Nifty must decisively reclaim the 59,300 – 59,400 zone to stabilise and attempt a move towards 59,800 – 60,000, while a sustained break below 58,000 could open the door for deeper downside in the coming sessions,” he said.
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.