Indian stock market benchmarks, the Nifty 50 and the Sensex, are expected to open lower on Friday, July 11, following mixed cues from global markets. Trends on the Gift Nifty also indicate a weak start for the Indian benchmark index.

Global Market Cues

The Gift Nifty was trading around the 25,290.50 level, a discount of nearly 133 points from the Nifty futures' previous close. European markets showed positive movement, with the FTSE 100 up by 1% and the CAC 40 up by 0.66%. However, U.S. futures traded marginally lower, with Dow, Nasdaq, and S&P 500 futures down between 0.10% and 0.19%, suggesting cautious investor sentiment.

Thursday's Market Performance

On Thursday, the domestic equity market ended lower, extending losses for the second consecutive session. The Sensex dropped 345.80 points, or 0.41%, to close at 83,190.28, while the Nifty 50 settled 120.85 points, or 0.47%, lower at 25,355.25. Bharti Airtel Ltd. and HDFC Life Insurance Co. were among the stocks that dragged the indices down.

Nifty 50 Outlook

The Nifty 50 continued to show weakness and closed lower on July 10. Nifty is expected to find support in the 25,200-25,330 range. A breach below this level may invite further selling pressure. Resistance is expected in the 25,500-25,600 range.

Nifty open interest (OI) data indicates the highest Call OI at the 25,400 strike, followed by 25,500, suggesting a potential resistance zone at higher levels. On the Put side, the highest OI was seen at the 25,300 strike, followed by 25,200, indicating immediate support levels. The 25,200–25,500 zone is a key range for Nifty's next directional move.

Sensex Outlook

The Sensex formed a bearish candle on daily charts and is exhibiting a lower top formation on intraday charts, which is largely negative. The intraday market outlook is weak, and a fresh selloff is possible after the dismissal of 83,000. Below this level, the Sensex could slip to 82,700 and potentially 82,500. On the upside, above 83,400, a quick intraday rally towards 83,700–84,000 is possible.

Bank Nifty Outlook

The Bank Nifty index is showing resilience above the 20-day simple moving average (SMA), which is acting as dynamic support near 56,500. Bank Nifty may consolidate between 56,500 and 57,500. Sustaining above 57,200 could propel the index toward 57,800 or even 58,000, while breaking below 56,500 risks a slide to 56,200 or the critical 56,000 support. Support is expected in the 56,000–56,500 range, while resistance lies at 57,300-57,600.

Market Sentiment and Key Factors

Investor sentiment remains cautious ahead of the Q1 results, with anticipation of a muted start to the season from the IT and finance sectors. The market is likely to consolidate in the near term, tracking progress on India–US trade talks. Domestic institutional investors (DIIs) remain net buyers in July, with ₹8,253 crore in inflows, offsetting foreign investor outflows of ₹5,400 crore, which may help cushion any sharp declines in the near term.