Stock Market Outlook Today, 9 June: Nifty, Sensex May Stay Volatile Amid Iran-Israel Tension & Crude Oil Surge

Indian benchmark indices are expected to trade with high volatility and a negative-to-range-bound bias on Tuesday, 9 June 2026, as global market weakness, escalating geopolitical tensions, and rising crude oil prices continue to weigh on sentiment.

Stock Market Outlook Today, 9 June 2026: Sensex, Nifty Prediction for Tuesday

On Monday, 8 June 2026, domestic equities witnessed a sharp sell-off. The Nifty 50 declined 243.70 points or 1.04% to settle at 23,123, while the Sensex fell 719.08 points or 0.97% to close at 73,524.26, reflecting broad-based profit booking across sectors.

Iran-Israel Fresh Strikes and Rising Crude Oil Price To Hit Indian Stock Market

Sentiment remained fragile amid rising concerns from West Asia and surging crude oil prices.

"Indian equities are expected to remain volatile in the near term, with sentiment weighed down by escalating geopolitical tensions in West Asia. Iran's missile strikes on Israel in retaliation to Israel's actions in Lebanon have pushed Brent crude prices nearly 3% higher to around USD 96/bbl, raising concerns around inflation and external sector pressures," said Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.

Nifty Prediction Today, 9 June 2026: What Traders Can Expect on Tuesday?

Technically, the Nifty 50 formed an inverted hammer-like candlestick on the daily chart, indicating a failed recovery after a gap-down opening and sustained selling pressure at higher levels.

According to Bajaj Broking Research, the index has approached a crucial support zone of 23,000-23,200, which coincides with the 8th April bullish gap area and the 61.8% retracement of the previous upward move (22,182-24,601).

"Index holding above the support area will lead to consolidation in the range of 23,000-23,550 in the coming sessions. A breach below 23,000 will signal extension of the current decline towards 22,800 and 22,600 levels in the coming sessions," said the brokerage.

On the upside, immediate resistance is placed at 23,267, and a breakout above this level could open the path towards 23,500-23,550.

Bank Nifty Outlook for 9 June 2026; Check Technical Analysis

The Bank Nifty also opened with a bearish gap and formed an inverted hammer candlestick pattern, signalling selling pressure at higher levels and ongoing consolidation.

The index is expected to trade in a broader range of 52,500-56,000, with traders watching for a decisive breakout or breakdown to establish the next directional move.

Within this range, immediate support is placed at Monday's low of 53,843, while a breach below it may drag the index towards 53,000 levels.

"While key support is placed at 53,000-52,500 zone being the confluence of the lower band of the 8th April bullish gap area and the 61.8% retracement of the previous pullback (49955-57456). Resistance is placed at 55,200-55,600 levels being the confluence of the 50 days EMA and the upper band of the last three weeks consolidation," noted Bajaj Broking Research.

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