SynopsisIndian benchmark indices closed higher on Friday, buoyed by private banking stocks and a strengthening rupee. Analysts suggest a crucial resistance at 23,800-23,900; failure to surpass this level could lead to a test of 23,200-23,000 support. A decisive move above this range would signal a pause in the downtrend.Listen to this article in summarized formatETMarkets.comForeign portfolio investors net sold shares worth Rs 4,440 crore on Friday. DIIs, meanwhile, were net buyers at Rs 6,003 crore.Benchmark indices closed on a positive note on Friday, supported by buying interest in private banking stocks amid an early recovery in the Indian rupee. Going ahead, analysts say a failure to move above the breakdown area of 23,800-23,900, will keep the bias corrective and can lead to testing of the support area of 23,200-23,000. While a move above the breakdown area will signal pause in the downtrend and open upside towards 24,200 and 24,600 levels being the high of April 2026.STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a gap-up startGIFT Nifty on the NSE IX traded higher by 212 points, or 0.89 per cent, at 23,977, signaling that Dalal Street was headed for a gap-up start on Monday.Tech View: A sustained bullish outlook will be confirmed only if the index closes above the 55,000 mark. Till then, the current upmove should be viewed as a recovery. Support is placed at 53,500, while resistance stands at 54,200 and 54,600.US Stocks end higherMajor stock indices advanced while Treasury yields declined on Friday, as investors assessed the prospects of a near-term agreement to bring an end to the U.S.-Israeli conflict with Iran.Asian stocks gainAsian shares and U.S. stock futures rose on Monday while the dollar and oil prices slipped as the prospect of a deal to end the Iran war buoyed risk appetite although a lack of clarity over when the Strait of Hormuz would open kept enthusiasm in check.S&P 500 futures rose 0.7% as of 9:52 a.m. Tokyo timeHang Seng futures fell 0.5%Japan’s Topix rose 1.5%Australia’s S&P/ASX 200 was little changedEuro Stoxx 50 futures rose 0.6%Oil dropsOil prices plunged over five percent and Asian markets ticked up early on Monday on hopes of a deal to end to the US-Iran war despite President Donald Trump downplaying its imminence.Gold risesGold prices rose more than 1% on Monday, supported by a weaker dollar and lower oil prices, as investors weighed prospects of a breakthrough in U.S.-Iran peace negotiations.Dollar slumps The dollar slipped at the start of Asian trading on Monday as hopes of a deal to reopen the Strait of Hormuz pushed oil prices below $100 per barrel, even as the Trump administration played down the chances of reaching an agreement with Iran soon.Stocks in F&O ban todaySAILKaynesSecurities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.FII/DII actionForeign portfolio investors net sold shares worth Rs 4,440 crore on Friday. DIIs, meanwhile, were net buyers at Rs 6,003 crore.RupeeThe rupee strengthened for a second straight session on Friday, rising 63 paise to close at 95.73 on the back of easing crude prices, positive equity markets, and softer US yields coupled with the intervention from central bank.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)Read More News on(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price...moreless(You can now subscribe to our ETMarkets WhatsApp channel)Read More News on(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price...moreless