The Indian equity markets will start their trading session on Friday with weak performance because GIFT NIFTY futures show global markets starting the day with uncertain conditions. The domestic market sentiment improved after the Economic Survey 2026 showed the Indian economy would experience continuous growth.
Market Overview
The benchmark indices experienced extreme price fluctuations on Thursday because of the Economic Survey and the Union Budget presentation which will take place on February 1. The NIFTY50 reached its closing point 76 points above the previous day after the survey predicted GDP growth from 6.8% to 7.2% for FY27. The positive forecast boosted investor confidence throughout all market sectors.
US markets opened on Friday morning with most stocks declining except for the Dow Jones which showed slight gains. Asian stocks showed positive performance because Japanese economic data demonstrated strong results. GIFT NIFTY futures showed a minor decline which indicated that January’s final trading day would begin with caution.
Technical Outlook
The NIFTY50 found strong support at the 25,167 level when it bounced back from its 200-day exponential moving average (EMA) which acted as a technical support level. The index encounters strong resistance at the 25,500 level which it has been unable to break through.
Market experts believe that a decisive close above 25,500 will create upward momentum which will lead to an upcoming movement toward the 26,000 level.
Derivatives and Options Data
Options data suggests a well-defined trading range for the coming week. The 25,500 strike price holds the highest call open interest, indicating strong resistance for the weekly expiry on February 3, 2026. Meanwhile, the 25,000 strike price has the highest put open interest, pointing to solid support at lower levels.
Stock and F&O Activity
- Long build-up: Tata Steel
- Short build-up: Indigo, Maruti Suzuki, SBI Life
- Most traded futures: Hindustan Zinc, Canara Bank
- Most active options contract: Infosys 1740 CE
No stocks were reported under the F&O ban list at the time of writing.
Disclaimer
Derivatives trading involves high risk which makes it appropriate only for traders who possess complete market knowledge. The stocks and data mentioned are for illustrative purposes only and do not constitute investment advice.
