Nifty 50, Sensex today: What to expect from Indian stock market in trade on December 5 ahead of RBI policy

The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open on a tepid note on Friday, tracking mixed global market cues, and ahead of the announcement of the Reserve Bank of India’s monetary policy.
The trends on Gift Nifty also indicate a muted start for the Indian benchmark index. The Gift Nifty was trading around 26,181 level, a discount of nearly 5 points from the Nifty futures’ previous close.
Investors will focus on the announcement of the RBI policy today. The RBI’s Monetary Policy Committee (MPC) is expected to keep the repo rate unchanged at 5.50%.
On Thursday, the Indian stock market snapped its four-session losing streak and ended higher, with the Nifty 50 closing above 26,000.
The Sensex gained 158.51 points, or 0.19%, to close at 85,265.32, while the Nifty 50 settled 47.75 points, or 0.18%, higher at 26,033.75.
Here’s what to expect from Sensex, Nifty 50, and Bank Nifty today:
Sensex Prediction
Sensex witnessed profit booking at higher levels, but managed to close above the 85,000 mark, which is largely positive.
“We believe that a reversal formation on daily charts, indicating a pullback, is likely to continue in the near future. For day traders, now, 85,000 and 84,800 would act as key support zones for Sensex. On the higher side, 85,500 - 85,650 would act as a crucial resistance area for the bulls. A successful breakout above 85,650 could push Sensex up to 86,000 - 86,200,” said Shrikant Chouhan, Head Equity Research, Kotak Securities.
On the flip side, he believes if Sensex falls below 84,800, it could retest levels around 84,500 - 84,400.
Nifty OI Data
Derivatives data shows aggressive call writing at the 26,100 strike and strong put OI at 26,000, indicating a tight near-term trading range. A sustained close above 26,300 will be crucial to re-establish bullish momentum in the sessions ahead, said Amruta Shinde, Technical & Derivative Analyst at Choice Equity Broking.
Nifty 50 Prediction
Nifty 50 ended its four-day losing streak and formed a small-bodied bullish candle on the daily chart.
“Nifty 50 index continues to trade below its 5- and 10-day EMAs. On the downside, the recent swing low at 25,842 remains a crucial support, while the 26,150 – 26,200 zone is expected to act as a strong resistance,” said Vinay Rajani, Senior Technical & Derivative Analyst, HDFC Securities.
Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research), Centrum Broking Ltd. said that a breakout above 26,100 will be crucial for the Nifty 50 index to extend its move toward 26,250.
“However, a drop below the 25,900 support level could push it lower toward 25,750. With the monetary policy outcome ahead, markets may stay volatile, so caution is advised,” said Jain.
According to Rupak De, Senior Technical Analyst at LKP Securities, expects 26,100 – 26,150 zones to act as crucial resistance, while support is placed at 25,900 – 25,950. “A fall below 26,000 may trigger a quick correction towards 25,950 – 25,900, as the chart setup appears weak on the hourly timeframe,” said De.
Bank Nifty Prediction
Bank Nifty index declined 59.55 points, or 0.10%, to close at 59,288.70 on Thursday, forming a Doji candle on the daily chart, signalling indecisiveness among market participants ahead of the RBI policy announcement.
“Going ahead, the 20-day EMA zone of 59,000 – 58,900 is expected to act as a key support area for the Bank Nifty index. On the upside, the zone of 59,600 – 59,700 will serve as an important hurdle. A decisive move beyond either of these levels could lead to a strong directional trend,” said Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities.
Ponmudi R, CEO of Enrich Money noted that the Bank Nifty index continues to trade below the key supply zone of 59,500 – 59,600, which remains the major hurdle for any sustainable upside. The near-term bias stays neutral to mildly negative while below this band.
“Immediate support is placed at the 59,000 – 58,900 zone, and a decisive break could open the downside toward 58,500 – 58,100. On the upside, a strong close above 59,200 could trigger short-covering and push Bank Nifty toward 59,500 – 59,650. RSI remains neutral-to-soft, confirming the lack of strong directional conviction,” said Ponmudi R.
He advises traders to stay tactical, focus strictly on support-based trades, and avoid aggressive longs unless Bank Nifty reclaims 59,350 with firm volume confirmation.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.