Sensex and Nifty are likely to open higher on Tuesday, buoyed by positive cues from Asian markets and a decline in oil prices after a ceasefire agreement was announced between Iran and Israel by U.S. President Donald Trump. The easing of geopolitical tensions has injected a fresh wave of optimism into global equities.
As of 8:10 a.m., Gift Nifty futures were trading at 25,297.50, indicating that Nifty50 may open well above its previous close of 24,971.90. This suggests a positive start for Indian markets, echoing gains across the Asia-Pacific region where investor sentiment has strengthened.
Oil prices, which had surged amid Middle East tensions, fell to a one-week low after the ceasefire news. The MSCI Asia ex-Japan index also rose more than 1.5%, reflecting renewed risk appetite among investors.
On Monday, both Nifty and Sensex had declined by around 0.6%, weighed down by foreign investor outflows and global uncertainty. But the ceasefire has created room for a short-term recovery, offering hope of market stabilisation.
Despite intermittent volatility, the Nifty50 has posted nearly a 1% gain in June so far — extending its monthly winning streak to four. Analysts credit this resilience to supportive central bank policies and strong domestic economic fundamentals.
VLA Ambala, Co-Founder of Stock Market Today, mentioned that Nifty is expected to find support between 24,850 and 24,720, while resistance could emerge around 25,080 to 25,210 in intraday trading.
Bajaj Broking Research observed that Nifty formed a high wave candle on Monday, staying within the previous session’s price range, which signals consolidation. They expect the index to maintain a positive bias and gradually move towards the 25,200–25,250 zone — the upper band of a five-week consolidation range.
The immediate bullish outlook remains intact above 24,700–24,800, supported by last week’s low and the 20-day exponential moving average. A firm breakout above the current resistance zone may open the path for an upward move towards 25,500.
Key support is placed at 24,500–24,400, marked by the 50-day EMA and the lower edge of the recent multi-week range — a crucial area to watch for downside protection.
With a ceasefire calming geopolitical nerves and technical indicators aligned, Indian markets appear poised for a steady-to-strong session ahead.
