Stock Market Today: Sensex, Nifty 50 to Open Cautiously Amid Global Cues; Key Levels to Watch

Despite positive global trends, Sensex and Nifty 50 may see cautious movement as analysts flag resistance levels and selling pressure.

February 11, 2025: The Indian stock market is expected to witness a cautious opening on February 11, with benchmark indices Sensex and Nifty 50 struggling amid global cues and sustained selling pressure.

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The Gift Nifty trends indicate a flat-to-positive start, with trading levels hovering around 23,480, a 20-point premium from the previous Nifty futures close.

Stock Market Performance on Monday

On February 10, the domestic equity market extended its losing streak for the fourth consecutive session.

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• Sensex dropped 548.39 points (0.70%) to close at 77,311.80.
• Nifty 50 declined 178.35 points (0.76%) to 23,381.60.

The formation of a strong bearish candle for four straight sessions signals that the index is struggling to sustain higher levels, analysts said.

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Sensex Outlook & Key Resistance Levels

The market saw profit booking at higher levels, causing Sensex to drop significantly.

• A bearish candle on daily charts indicates further weakness unless the index breaks past 77,600 resistance.
• Analysts predict a retest of 76,700-76,500 levels if selling continues.

Nifty 50 Prediction & Open Interest (OI) Data

Nifty 50’s price action signals a potential pause in the rally, requiring further confirmation for a sustainable breakout.

• Call OI suggests strong resistance at 23,500-23,600 levels.
• Put OI data indicates key support at 23,300, making it a crucial level to watch.

If Nifty falls below 23,220, it could break its bullish higher tops and bottoms formation, leading to further downside pressure.

Bank Nifty Outlook

• Bank Nifty dropped 177.85 points (0.35%) to 49,981.00, forming a doji candle, indicating market indecisiveness.
• Immediate support is at 49,800—a break below this may push the index towards 49,200 (its 20-day moving average).
• Resistance is observed near 50,500 – 50,600, where call writing has increased, limiting upward momentum.

With Bank Nifty struggling below the 50- & 200-day EMAs, analysts suggest a range-bound movement unless there is a strong breakout.

Market Sentiment & Strategy

Experts advise traders to watch for confirmation signals before taking long positions, as market weakness persists. A recovery above key resistance levels may indicate bullish momentum, while further downside below crucial supports may deepen selling pressure.

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Stock Market, Sensex, Nifty 50, Bank Nifty, Stock Market Analysis, Market Trends, NSE, BSE, Indian Economy, Nifty Predictions