Mumbai : The Nifty 50 share price is expected to open lower on Monday following weak global cues and a sharp surge in crude oil prices. Rising geopolitical tensions between the US and Iran have sparked concerns over oil supply disruptions, sending Brent crude past $111 per barrel and WTI crude above $111.
The Nifty 50 share price on the Gift Nifty indicates a gap-down opening of nearly 745 points from the previous session, reflecting strong selling pressure in the Indian markets. Friday saw the benchmark index fall 315 points to close at 24,450.45, while the Sensex dropped 1,097 points to 78,918.90 amid panic selling.
Nifty 50 Share Price Technical Outlook
Analysts suggest the Nifty 50 share price may test support levels in the 24,300–24,350 zone in the short term. Nagaraj Shetti, Senior Technical Analyst at HDFC Securities, said, “The recent bearish daily candle signals weakness, and Nifty 50 could retest 24,300 if the market continues to struggle.”
On the upside, immediate resistance is expected near 24,700–24,800. Nilesh Jain, VP of Technical Research at Centrum Finverse, added, “A break above 24,800 may trigger short-covering, but momentum indicators suggest further downside pressure in the near term.”
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Bank Nifty and Market Trends
Bank Nifty also faced steep losses, closing 1,272 points lower at 57,783.25. Analysts highlight that weakness in financial stocks could continue to impact the Nifty 50 share price. Support for Bank Nifty is placed near 57,500, while resistance remains at 58,300–58,500.
Market experts recommend level-based trading strategies, noting that volatility is likely to remain high. Investors should closely monitor global crude trends and domestic cues as the Nifty 50 share price navigates these challenges.
Conclusion
Overall, the Nifty 50 share price outlook for Monday indicates a cautious start for investors. With crude oil above $100 and global markets under pressure, technical analysts expect further corrections before any sustainable recovery. Traders are advised to follow support and resistance levels carefully and adopt risk management strategies during this volatile phase.