Nifty 50, Sensex prediction today: Check how Indian stock market is expected to trade on 9 July

Indian markets are expected to open higher on Thursday amid short-covering after a sharp selloff in the previous session, with the Sensex crashing 1,677 points or 2.15 percent and the Nifty 50 falling 516 points or 2.12 percent due to escalating US-Iran war tensions and rising crude oil prices. Gift Nifty is trading around 23,980, indicating a premium of nearly 68 points, suggesting a positive start. However, technical analysts note bearish candle formations on daily charts with the short-term trend turned negative, placing Nifty support at 23,600 and key Bank Nifty support under pressure after it slipped below its 20-day EMA.