Stock market today: Trade guide for Sensex, Nifty 50, crude oil and gold | Eight stocks to buy

Stock market today: The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open higher on Tuesday, 15 September(Photo: AI generated )AI Quick ReadStock market today: The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open higher on Tuesday, 15 September, amid mixed global cues.

The domestic equity indices ended lower in the previous session, with the benchmark Nifty 50 closing below 23,400 level.

The Sensex dropped 120.83 points, or 0.16%, to close at 74,781.76 , while the Nifty 50 settled 79.70 points, or 0.34%, lower at 23,398.10.

The Gift Nifty Live Chart shows a positive start for the Indian stock market today. By 7:39 AM, the Gift Nifty was trading around the 23,531 level, a premium of 46 points from the Nifty futures’ previous close of 23,485.20.

Ponmudi R, CEO of Enrich Money, said Indian equity markets are expected to trade with a cautious bias today, with crude oil prices remaining the biggest near-term risk for domestic equities. Renewed US–Iran military tensions and the latest escalation involving Yemen’s Iran-backed Houthis have raised concerns over a broader regional conflict and potential disruptions to global energy and shipping routes. While GIFT Nifty futures are indicating a technical rebound from last week’s lows, the macroeconomic pressure from higher oil prices amid an uncertain geopolitical backdrop is likely to keep investor sentiment guarded at higher levels.

Crude oil prices remain elevated, with WTI trading in the $102–103-per-barrel range and Brent moving above $106 amid concerns over disruptions to Saudi oil infrastructure and key shipping routes. The rise in crude prices has also reinforced expectations of tighter monetary policy globally.

Global technology stocks are facing additional pressure following concerns raised by senior AI executives over the pace and risks associated with AI development. The sell-off in semiconductor and AI-related stocks has further unsettled global equity markets. Meanwhile, the US 10-year Treasury yield briefly crossed the 5% mark for the first time since 2023, reflecting heightened inflation concerns linked to elevated energy prices and expectations of further monetary tightening.

Sachin Gupta, VP – Technical Research at Choice Equity Broking Private Limited, said the broader outlook for the Sensex remains sideways, with the index likely to consolidate within the 74,000–75,200 range in the near term.

“Holding the 74,000–74,160 support zone could keep the recovery attempt intact and allow the index to retest 75,000–75,200. A decisive breakout above this resistance zone would strengthen the outlook and pave the way for further upside, while a break below 74,000 could trigger renewed selling pressure,” Gupta said.

He added that the market remains cautious for now but is showing signs of resilience following the sharp recovery from lower levels.

Rajesh Bhosale, Technical Analyst at My Advisor Alpha, said the recent correction in Nifty 50 has intensified on the weekly chart. After a gradual decline over the previous four weeks that largely erased the July rally, the index fell sharply this week, breaking multiple support levels. Following a double top near 24,700, Nifty 50 has also breached the rising trendline connecting the higher bottoms, indicating the formation of a Descending Triangle. This suggests that the broader trend could remain under pressure in the near term.

“After a continuous decline since the beginning of August, momentum indicators have entered oversold territory, with the Daily RSI around 27, making an intermittent relief bounce possible. However, the broader trend is likely to remain weak until key resistance levels are reclaimed,” Bhosale said.

He added that 24,000 remains a stiff hurdle, preceded by 23,800 and 23,600, which had earlier acted as support but have now turned into resistance.

“On the downside, Friday’s low around 23,200, followed by the June low near 23,100, remains the immediate support zone. A decisive break below this zone could trigger further downside. Traders should closely monitor these levels and remain vigilant on geopolitical developments and crude oil prices, which are likely to remain key drivers of market direction in the near term,” Bhosale said.

Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities, said Bank Nifty opened with a gap down, but robust short covering triggered a recovery of nearly 890 points from the day’s low. The index formed a strong bullish candle with a lower wick on the daily chart, indicating buying interest at lower levels. Despite the gap-down opening, Bank Nifty closed 0.24% higher, highlighting increased buyer participation.