Domestic equities began the trading day in negative territory after US President Donald Trump declined Iran’s recent offer regarding the reopening of the Strait of Hormuz. The Nifty 50 shed 75.6 points, or 0.33%, to start at 23,064.90, while the Bank Nifty dropped 232.6 points from its prior close to open at 55,347.80. Meanwhile, the Sensex fell 160.91 points at the opening bell, landing at 73,734.83.
In currency markets, the Indian rupee opened down by 7 paise at Rs. 95.88 against the dollar, shifting from its previous close of Rs. 95.81 per dollar.
Foreign institutional investors (FIIs) kept up their selling momentum for a second consecutive session by offloading equities totaling Rs. 3,696 crore on September 25. Conversely, domestic institutional investors (DIIs) picked up equities worth approximately Rs. 2,838 crore during the same trading day.
Sensex Outlook
From a technical standpoint, the Sensex maintains a sideways-to-bearish trajectory, identifying the 73,200-73,450 area as a vital support region.
According to Sachin Gupta, VP of Technical Research at Choice Equity Broking Private Limited, if buying persists above 74,000, it could strengthen a recovery and drive the index toward the 74,200-74,500 bracket. That said, falling below the support zone risks sparking fresh selling pressure.
Market participants ought to monitor the 73,500-74,000 corridor closely, along with shifts in open interest (OI), to gauge the direction of the next market movement.
Nifty 50 Outlook
The Nifty 50 continues to face short-term selling headwinds and a corrective bias, with the wider weekly framework still pointing to underlying softness.
A daily RSI reading of 34 highlights subdued momentum, meaning a true recovery requires sustained buying support. Immediate resistance sits at 23,350 on the higher side, with the 23,500-23,600 resistance zone following close behind. A clear breakout and sustained trading above this band would strengthen the near-term technical outlook and point toward a wider rebound.
Looking downward, the 23,050-22,960 range acts as the immediate support band, backed by 22,800 as the next critical support marker. A decisive drop under 23,000—backed by heavier volumes—would cement the existing bearish pattern.
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Bank Nifty Outlook
The Bank Nifty faced ongoing downward pressure, sliding 1.38% to notch its fifth straight weekly loss. The index continues to hover beneath essential moving averages, indicating a fragile trend structure.
The 55,000 mark serves as both immediate support and a critical psychological threshold. Should the index break decisively beneath this area, 54,400 could come into play. Conversely, 56,800 acts as the primary overhead resistance.
“A decisive break below this zone could intensify selling pressure and drag the index towards 54,400. On the upside, 56,800 remains the key level to watch. As long as the index sustains below this resistance, the preferred strategy remains sell on rise. Any bounce towards the 56,100-56,200 zone could provide an opportunity to initiate fresh short positions,” said the expert Ravi Singh.
