Nifty 50, Sensex prediction today: Check how Indian stock market is expected to trade on 31

The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to have gap-down start on Monday, 31 August, amid weak global cues.(REUTERS)The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to have gap-down start on Monday, 31 August, amid.

Hitesh Tailor, Technical Research Analyst at Choice Equity Broking Pvt. The RSI stood at 46.84, indicating that momentum remains below the midpoint, although there are signs of stabilisation.

What Happened

Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said the Nifty 50 bounced back on Friday after two sessions of choppy trading, closing 84 points higher. Shetti noted that after breaking below the ascending trendline support near 24,150 on Thursday, the.

• The Gift Nifty was trading at around 24,232, a 110-point discount to the Nifty futures’ previous close.

• The domestic equity indices ended positive in the previous session, with the benchmark Nifty 50 closing above 24,100 level.

• The Sensex jumped 330.92 points, or 0.43%, to close at 77,264.51, while the Nifty 50 settled 84.80 points, or 0.35%, higher at 24,175.65.

Key Details

According to him, this is a positive signal, as false downside breakouts can often lead to sharp rebounds. The underlying trend remains range-bound with a positive bias, with the index moving within the 24,000–24,400 range.

• The Sensex closed at 77,264.51 on Wednesday, gaining 330.92 points, or 0.43%.

• Ltd., said the index is holding above the 76,800–77,000 support zone, while 77,680–78,000 remains the immediate resistance area.

• Mayank Jain, Market Analyst at Share.Market by PhonePe, said the 76,300–76,500 range remains the key structural support zone.

Why It Matters

A sustained rebound from the lower end of this range could trigger an upside move towards 24,300–24,400 in the near term, while 24,000 remains the crucial support level. Osho Krishan, Chief Manager – Technical & Derivative Research at Angel One, said the.

• According to him, defending this base would help sustain the broader medium-term recovery as the index establishes a stronger foundation above 77,000.

• On the upside, Jain identified 78,400–78,600 as the primary resistance zone.

What Reports Say

Coverage of the story so far points to:

• He said the index would need to first overcome the intermediate supply near 78,000 and then decisively cross the 78,400–78,600 resistance cluster to trigger a stronger upward breakout.

• A small bullish candle with upper and lower shadows was formed on the daily chart, indicating a minor recovery from the key support around 24,000.

• Continued reporting by Livemint as more details emerge