Indian stock markets are likely to open lower on Tuesday, following mixed global cues after US President Donald Trump said he would impose fresh tariffs on several trading partners. The Gift Nifty was trading around 25,495, tracking about 44 points lower than the previous closing price of Nifty futures, indicating a weak start.
On Monday, the markets closed flat, with the Sensex ending at 83,442.50, up 9.61 points, and the Nifty 50 closing nearly flat at 25,461.30.
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Most analysts have suggested level-based intraday trading in a market without a clear direction. Shrikant Chouhan from Kotak Securities noted that 83,500 on Sensex is a breakout point and 83,250 supports, with downticks possible to 82,800.
Open Interest (OI) data indicated heavy call writing at 25,500-25,600, and the maximum put OI is at 25,400, reflecting short-term resistance and support levels in Nifty.
