Nifty Prediction 9th July, 2026: The NSE Nifty 50 suffered a massive sell-off on Wednesday, July 8, after comments by US President Donald Trump at the NATO summit sparked fresh geopolitical concerns in the Middle East and a surge in crude oil prices sparked broad-based risk aversion across the equity markets. Technical analysts expect volatility to remain elevated in Thursday’s session, with the 23,600-23,800 zone emerging as the key support area that could determine the market’s next move.
Nifty at close on Wednesday, July 7
Broader markets also witnessed heavy selling, with the Nifty Financial Services and Nifty PSU Bank indices emerging among the worst performers. India VIX surged over 28 per cent, signalling a sharp spike in market volatility. The sharp fall came as risk appetite weakened after renewed geopolitical uncertainty in West Asia rattled global financial markets.
Nifty top gainers and losers
Nifty Prediction for Thursday, July 9 by experts
As traders brace for a fresh trading session on Thursday, the primary focus is whether the market can discover a floor or if geopolitical risks will accelerate the correction. For Thursday’s trade, analysts believe the 23,600-23,800 zone will be the key level to watch.
Nifty Prediction for Thursday, July 9 by Sachin Gupta
From a technical perspective, Sachin Gupta of Choice Broking said the index has formed a strong bearish candlestick on the daily chart, confirming rejection from higher levels and signaling weakness in the near term.
“Nifty has slipped below its key short-term moving averages, indicating negative. The 23,600–23,650 zone is expected to provide immediate support, whereas 24,000–24,050 remains the key resistance area. A sustained move above this resistance could trigger a relief recovery, while a decisive breakdown below support may extend the ongoing correction,” he further stated.
Gupta added that the Relative Strength Index (RSI) dropped sharply to 48.51 indicating weakening momentum. India VIX jumped to 14.68 with rise in 26.04%, reflecting a rise in market volatility and increased uncertainty among market participants.
“In the derivatives segment, significant Call Open Interest was concentrated at the 24,000 and 24,200 strikes, indicating immediate resistance, while notable Put Open Interest was observed at the 24,700 and 24,800 strikes, suggesting positional support at higher levels despite the sharp decline. Overall, the near-term outlook remains cautious, advised to closely monitor the 23,800 support zone,” he added.
According to Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, a long bear candle was formed on the daily chart, that has surpassed the last five days up move in one session, which indicates a faster downside retracement.
“Nifty witnessed a dramatic fall after 2pm in today’s session on the backdrop of rising escalation between US and Iran. The intraday consolidation movement with negative bias has ended with step intraday declines towards the end and Nifty closed the day with sharp one day loss of 516 points,” Shetti stated.
Gupta said that the short-term trend of Nifty has turned down sharply with medium to long term trend remains positive. “Further weakness down to the immediate support of 23600 could offer bas for the market and the Nifty could bounce from the lows. Immediate resistance is placed at 24100,” the analyst concluded.
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Nifty daily chart – July 8, 2026
Sectoral indices on Wednesday
Sector-wise, the market witnessed broad-based selling pressure, with all major sectoral indices ending in the red, reflecting weak risk sentiment across the board. Banking and financial stocks remained the biggest downfall, as Nifty Bank, Nifty Private Bank, PSU Bank, Financial Services witnessed heavy profit booking, exerting significant pressure on the Nifty Auto, Nifty FMCG.
Investor concerns intensified after US President Donald Trump said the ceasefire with Iran was over, although negotiations could continue following an exchange of strikes by both sides in the Strait of Hormuz.
The heightened tensions prompted investors to reduce exposure to equities, resulting in widespread losses across the market.
