Indian stock markets are expected to open on a steady note, with technical signals pointing to a narrow trading band and increased caution among traders amid subdued momentum and mixed forecasts from market analysts.
Indian equities were expected to begin Friday’s session on a steady note, with PASI Technologies saying Nifty was likely to open neutral and that near-term trading would remain tied to a narrow band. The firm placed immediate support at 24,250 to 24,300 and resistance at 24,600 to 24,650, while Bank Nifty was seen finding support at 57,200 to 57,300 and facing resistance at 58,200 to 58,300.
The positioning comes against a broader backdrop of a market still struggling for clear direction. Samco’s technical view this week described Nifty 50 as range-bound with a neutral bias, noting subdued momentum and the need for a decisive close above the upper end of its range to restore upward strength. Earlier market commentary from Spider Software India also pointed to heavy call writing near 24,600 and put writing around 24,300, underlining how options traders continue to anchor the index inside a compressed corridor.
For Bank Nifty, PASI Technologies said max pain had eased to 57,800, a level that often reflects the price where option writers may feel least pain as expiry approaches. The note suggested that traders could look for a long call or short put on dips, though it stressed that this was not a recommendation. That caution sits alongside a more measured view of the wider market from Bernstein, which, as reported by Moneycontrol, has turned neutral on India for 2026 and expects only modest gains after strong earnings optimism and macroeconomic tailwinds have already been priced in.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
