Indian Stock Market Forecast for February 8: Nifty 50 and Sensex Expectations

Thursday's forecast suggests that the Indian stock market indices, Sensex and Nifty 50, will experience volatility following the Reserve Bank of India's monetary policy announcement.

The Gift Nifty indicates a slightly positive opening for the Indian benchmark index, with trading around the 22,040 level, compared to the Nifty futures' prior close of 22,019.

Nifty 50 appears to be consolidating at elevated levels after encountering resistance in the 22,053 - 22,127 range in recent days. On February 7, the domestic equity benchmark indices entered a consolidation phase and concluded the day unchanged