1 day ago
Indian Markets Seen Opening Higher Amid Mixed Asian Cues
Indian shares ended higher on Monday after falling recently.
The Sensex and Nifty both gained, helped by more positive signals from global markets and easing worries about oil supplies.
A market indicator called GIFT Nifty suggested Indian shares might start Tuesday higher.
But analysts said the markets still need to cross important levels to show a stronger recovery.
They pointed to support levels where prices might find buyers and resistance levels where gains could stall.
US markets also finished higher, with technology-related shares helping lead gains.
In Asia, Japan and Taiwan were higher early Tuesday, while South Korea’s Kospi was slightly lower.
These different signals mean markets could still move up or down.
GIFT Nifty near 22,663 indicated a positive opening for Indian markets on Tuesday, October 6.
On Monday, the Sensex rose 472.77 points to 72,382.47, while the Nifty gained 133.80 points to 22,555.75.
Analysts identified 71,800–72,000 as key Sensex support and 72,600–73,000 as a possible retest zone.
For the Nifty, analysts cited support at 22,400 and resistance near 22,600.
US stocks finished higher Monday, while Asian markets were mixed early Tuesday: Japan and Taiwan rose, South Korea’s Kospi slipped.
- Who
- Indian stock-market investors and traders; analysts cited include Sachin Gupta and Rupak De.
- What
- The Sensex and Nifty rose Monday, and GIFT Nifty indicated a potentially higher opening on Tuesday.
- Where
- Indian markets, with US and Asian market movements also reported.
- When
- Monday, October 5, and Tuesday, October 6, 2026.
- Why
- The article attributed Monday’s gains to easing oil-supply concerns and positive global market signals.
Potential recovery
Risks and resistance
Sensex direction
Potential recovery
Holding above 71,800–72,000 could sustain a recovery and allow a retest of 72,600–73,000.
Risks and resistance
The broader structure remains sideways until a decisive breakout; rejection near resistance or a break below 71,800 could bring renewed selling.
Nifty direction
Potential recovery
A sustained move above 22,600 could provide short-term relief.
Risks and resistance
Sentiment remains weak, and a decisive fall below 22,400 could restart the bearish move.
Key facts
- Sensex close
- 72,382.47, up 472.77 points (0.66%) on Monday.
- Nifty close
- 22,555.75, up 133.80 points (0.60%) on Monday.
- GIFT Nifty
- Around 22,663, up nearly 81 points from the Nifty futures’ previous close.
- Sensex levels cited
- Support at 71,800–72,000; resistance and potential retest area at 72,600–73,000.
- Nifty levels cited
- Support at 22,400; resistance near 22,600.
- US market performance
- The S&P 500 rose 0.7%; the Nasdaq Composite gained around 1% and closed at a record.
- Asian market snapshot
- Early Tuesday, the Nikkei 225 and Taiwan’s TAIEX rose; South Korea’s Kospi fell 0.15%.
Quotes
Sachin Gupta
Vice president of technical research at Choice Equity Broking Private Limited.
“The Sensex has shown some recovery after the recent decline, but the broader structure remains sideways until a decisive breakout occurs. Holding above 71,800–72,000 could sustain the recovery and allow the index to retest 72,600–73,000, while rejection from the resistance zone may keep the index range-bound. A sustained close above 72,600 would improve the short-term technical setup, whereas a break below 71,800 could revive selling pressure. Traders should therefore monitor the key support, ”
livemint.com
“Markets witnessed a strong recovery on Monday, taking a breather from the recent corrective trend and gaining over half a percent. After a gap-up opening, the benchmark indices remained in a range through the session and eventually held on to most of their gains. The Nifty reclaimed the 22,500 mark, while the Sensex settled around the 72,380 level.”
livemint.com
Sources
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