Stock Market Outlook Today, September 8: Sensex, Nifty Likely To Remain Under Pressure Amid Geopolitical Risks

Indian benchmark indices could remain under pressure in Tuesday's trading session, September 8, 2026, after the Sensex and Nifty extended their decline in the previous session. Persistent selling in large-cap stocks, elevated crude oil prices and continued geopolitical uncertainty are likely to keep investors cautious.

Stock Market Outlook Today, September 8, 2026: Sensex, Nifty Prediction for Monday

Brent crude remained close to the $97 per barrel mark, adding to concerns for the domestic market. Higher crude prices can put pressure on India's import bill and inflation outlook, while the lack of a meaningful breakthrough on geopolitical issues has limited risk appetite.

The Nifty 50 ended 0.50% lower at 23,779 on Monday, September 7, while the Sensex also declined 0.50% to settle at 76,132. The benchmark indices remained under pressure through the session despite opening on a relatively flat note.

Nifty Prediction Today: Check Key Support and Resistance Levels

According to Bajaj Broking Research, the Nifty's technical setup continues to indicate weakness. The index formed a bearish candle on the daily chart, recording both a lower high and a lower low, while the close below 23,800 points to a continuation of the ongoing corrective phase.

The immediate trend remains negative as long as the index trades below 24,025. Sustained weakness below this level could drag the Nifty towards the 23,600-23,500 support zone. The area is considered important as it coincides with the previous major gap region and the July 2026 low.

On the upside, 24,150 is expected to act as a key resistance level. The zone gains importance because it represents the combination of last week's high and the 50-day EMA. A move above 24,150 could provide an indication that the current downtrend is losing momentum.

However, technical indicators suggest that a recovery cannot be ruled out. "Key observation in the daily chart is that the daily stochastic and daily 14 periods RSI has approached oversold territory. Hence, index holding above the support area of 23,600 -23,500, will lead to a pullback towards the 50-day EMA placed around 24,150," said Pabitro Mukherjee, Deputy Vice President-Research, Bajaj Broking.

This means traders will closely monitor the 23,600-23,500 zone on Tuesday. Holding this support could encourage a technical rebound, while a decisive break below it may deepen the ongoing correction.

Bank Nifty Prediction Today

Bank Nifty also remained in a corrective phase and formed a bearish candle on the daily chart, with both a lower high and a lower low. Bajaj Broking Research expects the index to remain within its broader consolidation range unless a decisive breakout or breakdown occurs.

In the near term, Bank Nifty is expected to move between 57,000 and 58,000. A close below 57,000 could strengthen selling pressure and take the index towards the 56,500-56,200 support area.

The lower support zone is important as it combines the 52-week EMA with the lower boundary of the broader nine-week trading range. The wider consolidation band for Bank Nifty remains between 56,500 and 58,700.

On the higher side, 58,000 remains the immediate hurdle. A sustained move above this level could open the way towards 58,500-58,700. Failure to cross the resistance, however, could keep the index confined to the 57,000-58,000 range.

"Within the consolidation index is facing resistance around 58,000 levels. Index sustaining above 58,000 levels will open upside towards 58,500-58.700 levels. Failure to sustain above 58,000 levels will signal extension of range bound trade in the range 57,000-58,000 levels in the coming sessions," said Pabitro Mukherjee, Deputy Vice President-Research, Bajaj Broking.

Disclaimer: The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred as "we"). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.