The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open lower on Tuesday, 18 August, in line with mixed global cues. The Gift Nifty trends also indicated a weak start for the Indian benchmark index. The Gift Nifty was trading at around 24,310.5, an 82.2-point discount to the Nifty futures’ previous close.
The domestic equity indices ended lower in the previous session, with the benchmark Nifty 50 closing below 24,300 level. The Sensex dropped 281.09 points, or 0.36%, to close at 77,728.16 , while the Nifty 50 settled 78.35 points, or 0.32 %, lower at 24,287.65.

Here’s what to expect from Sensex, Nifty 50 and Bank Nifty today:Sensex PredictionThe Sensex ended Monday's session at 77,728.16, down 281.09 points or 0.36%. Sachin Gupta, VP – Technical Research at Choice Equity Broking, said the Sensex formed a bearish daily candle, although the index showed resilience after recovering from its intraday low.
The benchmark found support near 77,500, while the 100-day EMA remained intact, indicating buying interest at lower levels. Gupta said a sustained hold above the 100-day EMA will be crucial to maintaining the broader technical structure. The Sensex is currently consolidating within the 77,000–78,300 range, keeping the near-term outlook sideways.

According to Gupta, holding the 77,000–77,400 support zone will be important for maintaining stability, while a sustained move above 78,000–78,300 could revive upward momentum. Until a decisive breakout or breakdown, the index is likely to remain range-bound, with buying interest emerging at lower levels and the 100-day EMA providing a key cushion on the downside.
Nifty 50 PredictionPonmudi R, CEO of Enrich Money, said the Nifty 50 continues to trade with a cautious bias, facing resistance at higher levels and struggling to sustain moves above the 24,400 zone. The index is trading below both its 20-day and 200-day EMAs, indicating continued near-term weakness and a lack of sustained buying interest.

Ponmudi said a sustained breakout above 24,500 could improve sentiment and support a recovery towards 24,600–24,700. On the downside, 24,300–24,200 remains a crucial support zone. A decisive break below 24,200 could intensify selling pressure and drag the index towards 24,000.
Overall, he expects the near-term outlook to remain cautious to mildly bearish. Hitesh Rathi, Technical Analyst – Equity & Derivatives at Angel One, said the technical setup remains cautious after the Nifty slipped below its 20-day DEMA, signalling further deterioration in the near-term trend.

However, sellers' inability to break below the previous weekly lows suggests some selling exhaustion. Rathi noted that the index is approaching its 50-day DEMA near 24,192, suggesting buying interest may emerge around these levels. He identified 24,250–24,200 as the immediate support zone, followed by stronger support at 24,100–24,000.
On the upside, Rathi said 24,450–24,500 is the immediate hurdle, followed by 24,650–24,700. A sustained move above 24,450–24,500 would be needed to confirm a meaningful reversal, he added. Bank Nifty PredictionSudeep Shah, Head – Technical and Derivatives Research at SBI Securities, said Bank Nifty continues to trade above its 50-day, 100-day and 200-day EMAs, indicating that the broader trend remains positive.

However, momentum indicators point to a range-bound market, with the daily RSI moving within a narrow band over the past 28 trading sessions, suggesting a lack of strong directional momentum. Shah said the 57,900–58,000 zone is likely to act as a crucial resistance area for Bank Nifty, while 57,100–57,000 remains an important support zone.
According to Shah, a decisive breakout above resistance or a breakdown below support could determine the index's next trend. Until then, Bank Nifty is likely to remain range-bound. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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