Sensex, Nifty 50 Poised for Gains Amid Economic Survey 2025 Anticipation

“Positive global cues and key resistance levels shape Indian stock market outlook; Investors await insights from Economic Survey.”

January 31, 2025: As the Economic Survey 2025 is set to be tabled today, the Indian stock market is gearing up for a promising start. The benchmark indices, Sensex and Nifty 50, are expected to open higher, supported by positive global market trends. The Gift Nifty, trading at 23,438—a 20-point premium from the previous close—further indicates a mildly positive opening for Indian equities.

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Performance Recap:

On Thursday, the Nifty 50 ended the session at 23,249.50, up 86.40 points or 0.37%, forming a bullish-bodied candle with a long upper wick, signaling challenges in sustaining higher levels. The Sensex rallied 226.85 points to close at 76,759.81.

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Predictions for January 31:

Sensex Outlook:

The Sensex is expected to maintain its uptrend, with key support at 76,400. A decisive move above this level could push the index towards the 77,000–77,200 range. However, a dip below 76,400 may prompt traders to exit their long positions.

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“A bullish daily candle and a higher bottom formation indicate further potential for an uptrend,” said Shrikant Chouhan, Head of Equity Research at Kotak Securities.

Nifty 50 Analysis:

The Nifty 50, sustaining its upward momentum for three consecutive sessions, is placed near critical resistance at 23,350–23,450. Immediate support lies at 23,100, with a short-term trend remaining positive.

“A breakout above 23,450 could trigger sharp short covering and broad-based buying,” noted Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities.

Bank Nifty Insights:

The Bank Nifty closed at 49,311.95, gaining 146 points and forming a bullish candle. With immediate support at 49,200, the index is well-positioned for bullish momentum if it sustains this level. Resistance is expected near 49,650.

“As long as Bank Nifty holds above 49,200, a buy-on-dips approach remains viable,” said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta.

Investor Strategies:

Analysts suggest a cautious approach ahead of the Union Budget 2025, recommending hedged portfolios to navigate potential volatility.

“The Nifty’s inverted hammer candlestick pattern signals upper price rejection. Expect support near 23,050 and resistance at 23,460,” advised VLA Ambala, Co-Founder of Stock Market Today.

With the Budget 2025 announcement just days away, today’s trading session will likely set the tone for market reactions in the coming days.

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Sensex Predictions, Nifty 50 Analysis, Economic Survey 2025, Indian Stock Market Outlook, Budget 2025 Impact, Bank Nifty Forecast, Stock Market Trends, Gift Nifty Updates, Equity Market Strategy