Gift Nifty Opens Strong, Indian Markets Poised for a Positive Start

On Monday morning, the Gift Nifty was trading around 23,930 – that’s roughly 102 points, or 0.43%, higher than the previous close. In other words, the futures were sitting about 160 points above Friday’s Nifty settlement of 23,767.45, hinting at a gap‑up opening for the cash market.

What’s behind this upbeat tone? A short‑lived calm in West‑Asia has softened the global risk‑off mood, while crude oil prices have taken a noticeable bite out of the inflation worry. The West Texas Intermediate benchmark slid more than 6% from a peak near $93 to the low‑$80s, and Brent followed suit, hovering around $88 after briefly flirting with the $100 mark.

“Investors are finding a little breathing room after the flare‑up in the Middle East,” said Ponmudi R, CEO of Enrich Money. He added that the dip in energy prices could ease inflationary pressures, which, in turn, might temper any hawkish stance from the U.S. Federal Reserve. Still, he warned that the region’s geopolitics will remain the primary market driver for the near term.

From a technical standpoint, the Nifty is dancing around a tight range. The immediate resistance sits between 23,800 and 24,000 – a zone that, if breached decisively, could pave the way toward a push to 24,200. On the flip side, support lies in the 23,700‑23,600 corridor; a slip below 23,600 might spark a dip toward 23,500‑23,300.

Friday’s close was anything but rosy – the Sensex slipped 331 points (about 0.43%) to 76,059.77, and the Nifty fell the same percentage to 23,767.45, marking a fifth straight session of losses. Yet even that day saw a recovery from intraday lows, thanks largely to buying interest in banking and IT stocks.

All eyes will stay glued to oil headlines and any fresh developments from the Middle East. Those factors will likely steer the market’s direction in the coming sessions, even as the Gift Nifty’s positive start offers a modest dose of optimism.