GIFT Nifty stood at 22,981 at 7:42 AM IST, pointing to a 44-point gap-up against Thursday’s Nifty 50 close of 22,936.75. That’s a modest positive after Thursday’s rally, though losses in US tech shares, weakness in parts of Asia and a fresh rise in oil cloud the picture.
In Simple Words
GIFT Nifty hints at where the Nifty may start, but it doesn’t fix the actual opening price. Global markets are giving mixed signals this morning, so the early reading could change before trading begins.
GIFT Nifty and Indicative Opening
| Measure | Level |
|---|---|
| GIFT Nifty, 7:42 AM IST | 22,981 |
| Thursday Nifty 50 close | 22,936.75 |
| Indicative gap | +44.25 points |
| Indicative percentage gap | +0.19% |
| Indicative Nifty opening level | Around 22,981 |
The GIFT Nifty quote is a futures reading, while 22,936.75 is the cash close, so the difference is only a rough guide. The pre-open auction and fresh global moves can change the final opening price.
Nifty Support and Resistance
Thursday’s Nifty session had a high of 22,961.95 and a low of 22,656.75. Classic pivot levels from those figures and the close put the first support near 22,742 and the first resistance around 23,047.
| Reference level | Nifty 50 |
|---|---|
| Support 2 | 22,547 |
| Support 1 | 22,742 |
| Pivot | 22,852 |
| Resistance 1 | 23,047 |
| Resistance 2 | 23,157 |
These are reference points, not predictions. A move above 23,047 brings 23,157 into view; a slide below 22,742 puts 22,547 in focus.
Global Cues
| Market or asset | Latest reading |
|---|---|
| Dow Jones, US close | 52,342.56 (−0.25%) |
| S&P 500, US close | 7,720.39 (−0.30%) |
| Nasdaq Composite, US close | 26,184.72 (−1.37%) |
| Nikkei 225, early Friday | −1.47% |
| KOSPI, early Friday | −3.35% |
| S&P/ASX 200, early Friday | +1.02% |
| Brent crude | $117.40 a barrel (+2.2%) |
| US Dollar Index | 102.27 |
| USD/INR spot, early quote | ₹95.25–₹95.26 |
US tech led Thursday’s declines after Alphabet’s results and spending outlook revived questions about returns on heavy AI investment. Asia was mixed early Friday, with Japan and South Korea lower and Australia higher, and traders are waiting for the Bank of Japan’s policy decision. Brent’s jump, following reports of attacks on Saudi energy infrastructure, is a worry for India’s import bill. The rupee closed Thursday at ₹95.26 per dollar.
Opening Sentiment: Positive Signal, Cautious Backdrop
Thursday’s advance was broad enough to lift the Sensex 1.24% to 74,151.04 and the Nifty 50 1.05% to 22,936.75. Foreign institutions were net sellers on Thursday, while domestic institutions bought more than they sold.
| Cash-market flow, Oct 29 | Net activity |
|---|---|
| FII | −₹943.60 crore |
| DII | +₹1,924.41 crore |
The earnings calendar stays busy, with results due today from Reliance Industries, Sun Pharmaceutical Industries and Bharat Electronics. September government budget data and the RBI’s weekly foreign-exchange reserves are also due, and the Bank of Japan decision is the main event overseas.
Also Read: Top 10 Indian Market News Today, October 29, 2026: SEBI, Railway Order and IPOs
Taken together, GIFT Nifty points to a slightly higher start, but the signal is narrow. Whether the Nifty can hold above Thursday’s close and approach 23,047 will matter as investors weigh a busy domestic results day against weaker tech shares abroad and Brent near $117.
What to Watch at the Open
Watch whether the Nifty holds above 22,936.75 after the opening auction, then keep an eye on the 22,742 support and 23,047 resistance levels. A sustained move through resistance would extend the recovery; failure to hold the previous close would bring the first support zone back into focus. Moves in Brent, Asian equities and the rupee may shape how the early GIFT Nifty reading plays out in the cash market.
Disclaimer: This article is for informational and educational purposes only and is not investment advice or a recommendation to buy or sell any security. Onetrader is not registered with SEBI as an investment adviser or research analyst. Please do your own research and consult a qualified financial adviser before making investment decisions.
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