Indian Markets Set for Subdued Opening Amid Tariff Concerns and RBI Anticipation

Indian equities are poised for a flat to negative start as tariff uncertainties dampen investor sentiment. The Gift Nifty's 24,670 level suggests a 50-point dip for the Nifty at opening bell. With Q1 FY25 earnings season largely concluded, market attention shifts to the impending RBI monetary policy decision.

Religare Broking's Ajit Mishra highlights the dual pressure of unresolved US tariff tensions and lackluster earnings surprises. "The MPC meeting outcome now takes center stage," Mishra notes, adding that while rate stability is expected, the committee's forward guidance could dictate near-term market direction. Selective stock opportunities are emerging despite the broader corrective phase.

Technical indicators show modest improvement as India VIX declines 1.84% to 11.71, reflecting easing trader anxiety. Options data reveals key resistance levels at 24,800 and 25,000 strikes, establishing near-term benchmarks for the Nifty's upside potential.