Stock Market Outlook Today, September 24: Sensex, Nifty Likely To Trade Higher Amid Falling Brent Crude

Indian stock market is likely to remain guided by global cues and developments in West Asia on Thursday, September 24, after benchmark indices extended their recovery in the previous session. Easing Brent crude prices below the $100-a-barrel mark provided some relief to investors, while expectations around a possible improvement in the geopolitical situation supported sentiment.

Stock Market Outlook Today, 24 September 2026: Sensex, Nifty Prediction for Friday

Market participants will continue to track crude oil movements, foreign institutional flows and developments in West Asia. The near-term trend is also likely to remain sensitive to global market cues, with technical levels providing important markers for the Nifty and Bank Nifty.

"Indian equities are likely to continue their gradual upmove in the near term as positive developments around a potential resolution of the war front improve sentiment. Developments in West Asia, movements in Brent crude, foreign flows and global cues will remain key near-term drivers," said Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.

Nifty Prediction Today for September 24, 2026: What Traders Can Expect?

The Nifty closed near the day's high in the previous session, indicating some recovery after coming under pressure in recent sessions. According to Bajaj Broking Research, the index formed a bullish candle on the daily chart, although the candle remained within the previous session's trading range. This indicates consolidation rather than a decisive change in the broader trend.

The brokerage noted that the index is rebounding from an extremely oversold zone, with stock-specific activity likely to remain important in the near term. On the downside, a breach below Tuesday low of 23,285 will open downside towards last week low of 23,116 levels.

"Nifty is likely to extend its recent consolidation and trade in the broad range of 23,115-23,650 in the coming sessions. On the higher side 23,600-23,650 will act as major resistance being the last week high and the recent breakdown area. The index needs to sustain a higher high and higher low formation and reclaim 23,650 to signal a pause in the ongoing downtrend," said Bajaj Broking Research.

Bank Nifty Outlook For Thursday

Bank Nifty also formed a bullish candle while remaining within the previous session's range, pointing to continued consolidation after the recent decline. Bajaj Broking Research noted that the index has remained within the range of a large bearish candle formed last Tuesday for the past six sessions.

The index continues to hold above the 56,000 level, which is close to the lower end of its broader 12-week trading range of 56,000-58,700. However, the broader technical structure remains cautious as Bank Nifty is still below the 57,000 resistance level and has yet to establish a sustained higher-high and higher-low pattern on the weekly chart.

"Bank Nifty is likely to extend its recent consolidation and trade in the broad range of 55,700-57,000. A sustained close above 57,000, accompanied by a Higher High-Higher Low formation on the daily chart, would indicate a potential pause in the prevailing downtrend," said Bajaj Broking Research.

On the downside, 56,000-55,700 remains the immediate support zone, with the brokerage noting that these levels broadly coincide with the lows recorded over the previous two weeks. A decisive break below this zone could expose Bank Nifty to 55,200, followed by 54,800.

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