Nifty 50, Sensex today: What to expect from Indian stock market in trade on February 10

The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Tuesday, tracking positive global market cues.

The trends on Gift Nifty also indicate a strong start for the Indian benchmark index. The Gift Nifty was trading around 25,990 level, a premium of nearly 75 points from the Nifty futures’ previous close.

On Monday, the Indian stock market ended higher, with the Nifty 50 closing above 25,850 level.

The Sensex rallied 485.35 points, or 0.58%, to close at 84,065.75, while the Nifty 50 settled 173.60 points, or 0.68%, higher at 25,867.30.

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

Sensex Prediction

Sensex crossed the psychological 84,000 mark for the first time in several sessions, supported by a recovery in high-beta financials and heavyweight industrials.

“Market breadth remained healthy, with the advance-decline ratio favoring the bulls, suggesting that mid-cap stocks are finding favor once again. Immediate support for Sensex is now at the 83,500 – 83,700 zone. On the upside, reclaiming and sustaining the 84,400 – 84,500 resistance zone is essential for a complete trend reversal toward previous all-time highs,” said Mayank Jain, Market Analyst, Share.Market.

Nifty OI Data

In the derivatives segment, significant put writing at the 25,800 strike and strong call writing at the 26,000 strike define a narrow near-term trading range.

“Overall, traders are advised to adopt a buy-on-dips approach near key support levels and wait for a decisive breakout above resistance before initiating fresh directional positions,” said Aakash Shah, Technical Research Analyst at Choice Equity Broking.

Nifty 50 Prediction

Nifty 50 formed a Doji candle, indicating indecision among market participants.

“A small red candle was formed on the daily chart with a gap up opening. After a massive rally and a consolidation in the early part of February, the market bounced back smartly and sustained above the hurdle of 25,800 levels. The opening upside gap of 3rd February is still open partially and that has been added with Monday’s up gap. This is a positive indication and signals a formation of bullish runaway gap, which are normally formed in the middle of uptrend,” said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

According to him, the underlying trend of Nifty 50 remains positive, and the next upside levels to be watched are around 26,000 and 26,350 in the near term. Immediate support is placed at 25,700.

Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research), Centrum Broking Ltd. noted that the Nifty 50 index reclaimed its 50-DMA placed around 25,795, which is likely to act as immediate support.

“Momentum indicators remain supportive, with the MACD already signaling a buy crossover and the RSI sustaining above the 50 level. The overall structure appears positive, with an upside potential towards 26,000, a decisive break above this level could trigger short covering and lead the index towards 26,200,” said Jain.

Mayank Jain said that the immediate support for Nifty 50 is placed in the 25,750 – 25,800 range, where the 25,800 Put strike has seen significant Open Interest (OI) buildup, reinforcing it as a key floor.

“Conversely, immediate resistance is visible in the 25,950 – 26,000 range, with a formidable hurdle at 26,000 where Call writers remain most aggressive. A decisive daily close above 26,000 would be required to trigger a fresh rally toward the 26,300 level,” said Jain.

Bank Nifty Prediction

Bank Nifty index ended 548.80 points, or 0.91%, higher at 60,669.35 on Monday, and the index is holding above all key moving averages, with a positive crossover among short-term moving averages.

“For Bank Nifty, the immediate resistance is placed in the 60,800 – 60,900 zone, making it a crucial supply area to watch. Any sustained move above this zone could lead to Index continuing its up move on the upside towards 61,300, followed by 61,600 in the near term. On the downside, the zone of 60,400–60,300 zone is likely to act as a strong support,” said Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities.

Om Mehra, Technical Research Analyst, SAMCO Securities noted that the rebound from recent lows on daily chart has retraced toward the 0.236 Fibonacci level near 60,830 and the 0.382 level around 60,250, where the index is currently stabilising.

“Holding above these retracement levels indicates that the pullback is being absorbed within the broader uptrend. The RSI is placed near 60, holding comfortably above the mid-zone, while the DMI setup shows the positive directional line firmly above the negative line. The ADX is near 20, indicating steady but controlled trend strength. The hourly chart continues to reflect a bullish setup,” said Mehra.

According to him, the immediate support is placed in the 60,300 – 60,200 zone, followed by a stronger base near 59,600, which aligns with key Fibonacci and moving-average levels. On the upside, 60,900–61,100 remains the immediate resistance band.

“Nifty Bank remains positioned close to its record highs. A buy-on-dips approach may remain preferable in the near term, as long as 59,640 is protected,” he added.

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.