What to expect from Indian stock market in trade on September 29

By Admin

29 Sep, 2025

The Indian stock market is poised for a positive start on Monday, September 29, as early trends on the Gift Nifty signal a gap-up opening. The Gift Nifty was trading around 24,816 levels a premium of nearly 126 points over the Nifty futures’ previous close. This comes after a week of persistent weakness, where both Sensex and Nifty 50 extended their losing streak for the sixth straight session.

On Friday, the Sensex crashed 733.22 points, or 0.90%, to close at 80,426.46, while the Nifty 50 declined 236.15 points, or 0.95%, to end at 24,654.70. Here’s a detailed look at what analysts expect from Sensex, Nifty 50, and Bank Nifty today:

Sensex Outlook

Sensex has formed a long bearish candle on the weekly charts and is holding a lower top formation on intraday charts, suggesting further weakness.

• Key Resistance: 81,200 (a breakout above this could push the index toward 81,800 – 82,200).
  
  

• Immediate Support: 80,300, with further downside risk toward 79,800 – 79,600 if selling pressure continues.
  
  

• Analysts from Kotak Securities and SBI Securities highlight that the 200-day EMA zone around 80,100 – 80,000 will be crucial. A sustained move below this zone could trigger a deeper correction toward 79,300.
  
  

Nifty 50 Outlook

Nifty 50 broke its short-term trendline support and formed a strong bearish candle on both daily and weekly charts, signaling continued weakness.

• Immediate Resistance: 24,850 – 24,900. A decisive move above 24,900 is essential to reverse the bearish trend.
  
  

• Key Supports: 24,500 followed by 24,350. Further downside could see levels of 24,300 – 24,100, where the 55-week EMA lies.
  
  

• Analysts from HDFC Securities, Centrum Broking, and Master Trust Group agree that until Nifty reclaims 25,350, sentiment will likely remain cautious, and traders may adopt a sell-on-rise approach.
  
  

Bank Nifty Outlook

Bank Nifty ended Friday’s trade at 54,389.35, down 586.85 points, or 1.07%. For the week, the index fell nearly 2%, forming a bearish candle on weekly charts.

• Support Levels: The 200-day EMA zone of 53,800 – 53,700 is expected to act as strong support. A fall below this could open the way toward 53,000.
  
  

• Resistance Levels: 54,700 – 54,800 will act as a hurdle for recovery. The 100-DEMA at 54,900 is another significant resistance, followed by 55,510.
  
  

• Technical indicators, including RSI, suggest momentum remains weak, adding to bearish sentiment in the banking space.
  
  

Market Sentiment

Despite oversold conditions that may trigger temporary pullback rallies, the overall short-term market trend remains weak. Global cues will also play a key role in setting intraday direction, but domestic technicals suggest caution.

Key Takeaways for Traders:

• Nifty range: 24,300 – 25,100.
  
  

• Sensex watch levels: 79,800 – 81,800.
  
  

• Bank Nifty watch levels: 53,700 – 55,510.
  
  

Investors should remain cautious, track global developments, and monitor key support zones before making fresh positions.

Disclaimer: The views and recommendations above are those of individual analysts and brokerage firms. Investors are advised to consult certified experts before making investment decisions.