Mumbai — Indian markets opened on a cautious note Tuesday as Nifty futures (30-Sept expiry) traded at ₹25,276.00, down about 0.53%, while Gift Nifty hovered near ₹25,266.00, off 0.13%. The soft start reflected mixed global cues, with US bond yields firm, crude oil prices volatile, and Asian markets trading unevenly. Investors preferred to stay light on positions until stronger direction emerges.
For the day, the index is likely to remain inside its familiar band. On the upside, 25,450–25,600 remains the key resistance zone, an area where rallies have stalled in recent sessions. On the downside, 25,100–24,900 is seen as the support zone; a break below 24,900 could invite deeper selling pressure. In simple terms, for Nifty futures levels today, 25,450 is the ceiling to watch and 25,000 is the crucial floor.
Derivatives positioning reinforces the rangebound view. Options data shows heavy call writing near 25,400–25,600, indicating traders are guarding the upper band, while put activity is visible around 25,000, suggesting willingness to buy dips. With volatility staying low, the market looks set for sideways moves rather than a big trending breakout.
Traders continue to play the range. Buying near 25,100–25,000 with strict stops below 24,900 has worked, while short trades near 25,350–25,450 have also given quick reversals back into the band. A breakout above 25,450, sustained with strong market breadth and volume, would be needed to open targets toward 25,600–25,750.
Sector trends remain uneven. Auto stocks are holding firm on festive demand cues, oil and gas counters remain choppy with every move in crude, and IT names are tracking global tech sentiment. Banks are still the swing factor—without support from heavyweight private lenders, the Nifty struggles to hold higher levels. Mid- and small-caps stay active, but investors are picking selectively, focusing on quality balance sheets rather than chasing momentum.
Overall, with Gift Nifty and Nifty futures slipping, the market looks set for another rangebound session unless a clear global trigger shifts sentiment. Respecting the boundaries of 25,450 on the upside and 25,000 on the downside remains the key trading discipline for the day.
For investors, the message is simple: the market is in wait-and-watch mode. With Nifty futures moving between 25,000 and 25,450, discipline and patience are more important than chasing quick moves. A breakout on either side will give the next clear signal.
