Indian Markets Poised for Cautious Positive Start Amid Easing Middle East Tensions
Indian equity markets are expected to open cautiously positive on Monday due to easing Middle East tensions and lower crude oil prices. The Brent crude futures have dropped over 6% to $82.41 after US President Donald Trump announced that talks with Iran will happen on Monday.
The sharp decline in crude oil prices is seen as a constructive development for India, which will help ease inflationary pressures, support the rupee, and improve the macro outlook. Rajesh Palviya, Head of Research at Axis Direct, noted that Asian markets have opened on a softer note after Friday's semiconductor-driven rally.
GIFT Nifty was indicating a mildly positive opening around 24,565 marks, while Abhishek Kumar from SEBI RIA expected a strong gap-up opening for the Nifty 50. Devarsh Vakil from HSL Prime Research stated that Indian indices are breaking out from near-term resistance levels after several months of consolidation.
The 200-day moving average around 24,780 is seen as key technical resistance level, while a decisive break below 24,250 support zone could trigger a pullback towards 24,100. Soft oil prices and strong global cues provide a robust foundation for today's opening session.