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Mint
2 days ago
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on July 1 after Wall Street rally
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open flat on Tuesday, tracking mixed global market cues. The trends on Gift Nifty also indicate a flattish start for the Indian benchmark index. The Gift Nifty was trading around 25,630 level, a premium of nearly 15 points from the Nifty futures' previous close. On Monday, the domestic equity market benchmark indices ended its four-day gaining streak to close lower amid profit booking. The Sensex dropped 452.44 points, or 0.54%, to close at 83,606.46, while the Nifty 50 settled 120.75 points, 0.47%, lower at 25,517.05. Here's what to expect from Sensex, Nifty 50, and Bank Nifty today: Sensex formed a bearish candle on daily charts, indicating temporary weakness. 'The short-term market outlook remains positive. We believe that 83,500 will act as a key level to watch. Below 83,500, we could see a further correction towards 83,200 - 83,000. On the flip side, a sustained move above 83,500 could push Sensex up to 83,900. Further upside may also continue, potentially lifting the index to 84,200,' said Shrikant Chouhan, Head Equity Research, Kotak Securities. Nifty 50 declined 120.75 points, and formed a bearish engulfing pattern on the daily chart. 'The broader setup remains encouraging as Nifty 50 comfortably holds above the 9-day and 20-day EMAs, both of which continue to slope upward, highlighting the strength of the prevailing trend. The index witnessed a mild pullback from the upper resistance zone near 25,660 – 25,685, aligning with the 161.8% Fibonacci retracement. The daily RSI for Nifty 50 has eased slightly to 63, remaining in a healthy zone, which suggests that momentum remains intact without any signs of exhaustion,' said Om Mehra, Technical Research Analyst, SAMCO Securities. According to him, the support is now seen at 25,350 – 25,300, a zone that previously acted as a breakout area and now stands as a re-entry level for fresh accumulation. Unless this level is breached decisively, he believes any short-term pullback may provide a buying opportunity. 'With the higher-high formations remaining intact and no major breakdown signs, the outlook remains positive as we enter the July series. A sustained move above 25,700 could reignite bullish momentum, with the next upside levels up to 25,900 - 25,970,' Mehra said. Dr. Praveen Dwarakanath, Vice President of noted that the Nifty 50 has closed below the upper Bollinger band indicating a pause in the rally at the current levels. 'The pause can likely be the profit booking after a breakout from the 25,200 levels. The index closing above day's low is a clear sign of a further rally. The ADX DI+ line is sloping downside and the ADX DI- line sloping upside, indicating signs of weakness in the index, in yesterday's fall. The momentum indicators are in the over-bought region which can also be the reason for the fall,' said Dwarakanath. According to VLA Ambala, Co-Founder of Stock Market Today, the Nifty 50 index formed a bearish engulfing pattern on the daily chart, while its RSI at 62. 'This movement suggests moderate buying opportunities on dips. However, it is best to avoid selling on rises until we reach a fresh high, as the major trend remains bullish, and Nifty 50 is just 3% away from its all-time high. I recommend adopting neutral trading strategies in index derivatives for a couple of days. We can expect Nifty 50 to find support between 25,300 and 25,200, and meet resistance near 25,650 and 25,870 in today's trading session,' Ambala said. Bank Nifty index ended 131.15 points, or 0.23%, lower at 57,312.75, forming a narrow-bodied bearish candle on the daily chart, reflecting mild profit booking at elevated levels. 'Despite the minor pullback, the Bank Nifty index maintained a higher high–higher low formation, suggesting a phase of time-wise consolidation amidst stock-specific traction. The index is currently perched above its immediate support zone of 57,000 – 56,800. Sustaining above this demand zone will keep the short-term bias constructive, paving the way for a potential move towards 58,500 — a level derived from the measured move projection of the recent consolidation band between 56,000 and 53,500,' said Bajaj Broking Market. Conversely, a breach below 56,800 may trigger a corrective consolidation of the recent upswing, with the index likely oscillating within a broader consolidation zone of 56,000 – 57,600, said the brokerage firm. 'Structural support is recalibrated to the 56,000 – 55,800 region, representing a confluence of key technical indicators — including the 50-day EMA and the 61.8% Fibonacci retracement of the recent rally (55,149 - 57,614),' Bajaj Broking Market added. Om Mehra highlighted that the Bank Nifty index is holding firmly above all the short and medium-term moving averages, and its rise is offering support to the ongoing uptrend. The slope of the Bollinger Band has turned upward, suggesting expansion in price range and rising volatility. 'The daily RSI stands at 66, hovering below the key 70 mark, reflecting a strong, yet not overheated momentum. Meanwhile, the MACD has entered positive territory, supported by an advancing histogram. The index may see a shallow retracement toward the 57,000 - 56,800 zone, which is expected to act as immediate support. Any dip toward this zone is likely to attract fresh buying interest as long as the structure remains above 56,300 on a closing basis,' Mehra said. With the broader participation from PSU banks and a strong setup in momentum indicators, the bullish tone stays intact in Nifty Bank index. A decisive close above 57,620 could pave the way for a fresh leg towards higher levels at 58,200 and beyond, he added. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
7 days ago
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on June 26 amid Israel-Iran ceasefire
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open higher on Thursday, tracking mixed global market cues amid cautiousness over the fragile Israel-Iran ceasefire. The trends on Gift Nifty also indicate a mildly positive start for the Indian benchmark index. The Gift Nifty was trading around 25,296 level, a premium of nearly 43 points from the Nifty futures' previous close. On Wednesday, the domestic equity market indices extended rally for the second consecutive session to end sharply higher, with the benchmark Nifty 50 closing above 25,200 level. The Sensex jumped 700.40 points, or 0.85%, to close at 82,755.51, while the Nifty 50 settled 200.40 points, or 0.80%, higher at 25,244.75. Here's what to expect from Nifty 50 and Bank Nifty today: Nifty 50 continued to move up on June 25 and closed the day with healthy gains of 200 points. 'A reasonable positive candle was formed on the daily chart on Wednesday, after the formation of a negative candle of the previous session. Technically, this market action indicates an attempt of bulls to recover the intraday losses of Tuesday. The Nifty 50 is on the way towards the decisive upside breakout of the broader high low range of 25,200 - 24,500 levels,' said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. Further sustainable upside from here could pull Nifty 50 towards the next upside target of 25,600 - 25,700 levels in the near term. Immediate support is placed at 25,000 levels, he added. Om Mehra, Technical Research Analyst, SAMCO Securities noted that the Nifty 50 holds above the 9-day and 20-day moving averages, with the latter placed near 25,000, acting as a near-term cushion. The daily Supertrend support trails, indicating ample buffers on the downside. 'The RSI is now hovering above the key 60-mark, showing improving momentum. Meanwhile, the MACD is on the verge of a bullish crossover. The India VIX declined sharply by 5% to 12.96, reducing near-term volatility concerns and creating a supportive outlook. If the index sustains above 25,200, the next potential stretch could be toward 25,330 – 25,410. On the downside, 25,100 - 25,000 now acts as immediate support,' Mehra said. According to Dr. Praveen Dwarakanath, Vice President of Nifty 50 formed a bullish candle near the upper Bollinger band, indicating strength in the index. 'The immediate resistance for the index is at 25,600 and then 26,200 levels and the support is now at 24,800 levels. The ADX DI+ line is sloping upside with the ADX average line, indicating momentum in the rally. The momentum indicators are sloping up, suggesting further momentum on the upside in the index,' said Dwarakanath. VLA Ambala, Co-Founder of Stock Market Today, expects the market to lean towards a buy-on-dip strategy, especially if the Nifty 50 index opens below 25,000 due to any macroeconomic triggers. 'Currently, we are in a bullish trend with no signs of reversal. So, for the remaining trading session in June, we could expect Nifty to gain support between 25,000 and 24,950 and face resistance near 25,300 for the rest of the June session,' Ambala said. Bank Nifty index gained 159.25 points, or 0.28%, to close at 56,621.15 on Wednesday, extending its rebound while respecting the rising channel boundaries. 'Bank Nifty formed a doji candle which remained enclosed inside previous session price range signaling consolidation amid stock specific action. Index in the process has retraced more than 80% of its recent breather (57,049 - 55,149). Momentum remains firmly positive above the 55,400 zone, which aligns with the recent consolidation base and the previous week's low, reinforcing it as a near-term pivot support,' said Bajaj Broking Market. Looking ahead, it expects the Bank Nifty index to retest the all-time high near 57,050, with potential extension towards the 57,600-mark in the coming weeks. 'The daily 14 period RSI remains in an uptrend, further validating the bullish structure. Key structural support is placed at the 54,500 – 54,000 zone, marked by the confluence of the 50-day EMA and key Fibonacci retracement levels, acting as a strong downside cushion,' said the brokerage firm. Om Mehra highlighted that the Bank Nifty index traded in a narrow band but managed to hold above its short-term moving averages. 'The 9-day and 20-day EMAs continue to act as support, while the 50-day is catching up from below. The setup reflects steady progress, though a stronger directional push is awaited. The RSI has climbed above 60, indicating momentum is gradually building after recent consolidation. The immediate hurdle is placed near the upper channel resistance around 57,000, while the support for the near term stands at 56,200,' Mehra said. A 'buy on dip' strategy would be the preferred approach for the upcoming session, he added. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
23-06-2025
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on June 23 after US bombs Iran's nuclear sites
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open on a negative note on Monday, following mixed sentiment in global markets. The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 24,986 level, a discount of 125.7 points from the Nifty futures' previous close. Global market cues remain weak on escalation of Israel-Iran after US dropped a 'payload of bombs' on three nuclear sites in Iran, thereby joining the Middle East crisis. In response to US military strikes, Iran's Supreme National Security Council is reportedly weighing a decision to close the Strait of Hormuz, a vital global energy chokepoint. On Friday, the domestic equity market ended with sharp gains, with the benchmark Nifty 50 closing above the 25,100 level. The Sensex jumped 1,046.30 points, or 1.29%, to close at 82,408.17, while the Nifty 50 settled 319.15 points, or 1.29%, higher at 25,112.40. Here's what to expect from Nifty 50 and Bank Nifty today: In the derivatives segment, the highest Call Open Interest (OI) is concentrated at the 25,200 and 25,300 strike levels, suggesting strong resistance around these zones. On the downside, the highest Put Open Interest is observed at the 25,000 and 24,800 strikes, indicating strong support and traders' confidence in defending these levels, said Choice Broking. This setup suggests a likely range-bound movement in the near term, with a positive bias as long as the index holds above the key support levels. Nifty 50 finally witnessed an excellent breakout on June 20 and closed the day higher by 319 points. 'A long bull candle was formed on the daily chart after the formation of narrow range movement on the downside in the last three sessions. This market action is indicating a decisive upside breakout of choppy movement. Nifty 50, on the weekly chart, formed a long bull candle after a sharp weakness of last week and is placed at the upper end of broader high low range. This is a positive indication,' said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. According to him, the underlying trend of Nifty 50 is positive, and the next upside level to be watched is around 25,250. 'A decisive breakout of the range could pull Nifty 50 towards the next upside target of 25,650 in the near term. Any consolidation or minor dips down to the immediate support of 24,900 could be a buy-on-dips opportunity,' Shetti said. Om Mehra, Technical Research Analyst, SAMCO Securities, highlighted that the Nifty 50 formed a robust bullish candle on the daily chart. 'Nifty 50 has broken above a declining trendline, which adds further strength to the ongoing bullish momentum. Nifty has also reclaimed both the 9-day and 20-day EMAs, signalling a resumption of the uptrend. The daily RSI, which had been consolidating around the neutral 50 zone, has now turned upward and is placed at 58, indicating improving momentum,' said Om Mehra. On the hourly chart, the formation of higher highs confirms short-term strength and a potential continuation of the upward trajectory. The support levels are placed at 25,000, followed by 24,950, while the resistances are seen at 25,225 and 25,280, he added. According to VLA Ambala, Co-Founder of Stock Market Today, Nifty 50 formed a bullish Marubozu on the daily time frame and a bullish Sandwich and a bullish Marubozu on the weekly time frame. 'We can expect Nifty 50 to gather support between 25,000 and 24,950 and meet resistance between 25,260 and 25,300 in the upcoming intraday trading sessions,' Ambala said. Bank Nifty index rallied 675.40 points, or 1.22%, to close at 56,252.85, forming a strong bullish candle in the daily chart. 'Bank Nifty gained 1.31% last week, rebounding from the prior week's decline and closing firmly above both the 21-day and 55-day EMAs — indicating renewed short-term strength. RSI stands at 64, reflecting bullish momentum. Gains were further supported by the RBI's relaxation in project financing norms, which lifted sentiment in financial stocks. The index is holding well above the crucial 56,000 support; below this, 55,400 is the next level to watch,' said Puneet Singhania, Director at Master Trust Group. On the upside, he believes 56,500 remains the key resistance — breakout above it could lead to a rally toward 57,100. Traders should watch for price action near support zones for potential entry opportunities. Bajaj Broking Research said that the Bank Nifty formed a bull candle with a higher high and higher low and a firm closing above the 56,000 levels. 'We expect the index to maintain positive bias and head towards 56,700 and 57,400 levels in the coming weeks. The immediate bias remains positive above 55,500 levels. The daily 14 periods RSI has generated a buy signal thus validates positive bias in the index,' said Bajaj Broking Research. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
19-06-2025
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on June 19 after US Federal Reserve policy
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to extend losses and open lower on Thursday after the announcement of the US Federal Reserve policy, and cautiousness amid the ongoing Israel-Iran war. The trends on Gift Nifty also indicate a weak start for the Indian benchmark index. The Gift Nifty was trading around 24,740 level, a discount of nearly 87 points from the Nifty futures' previous close. The US Federal Reserve decided to keep the benchmark interest rates steady at 4.25% to 4.5%, while the Federal Open Market Committee (FOMC) officials expect to cut the interest rates by a total of 50 basis points (bps), or 0.50%, in 2025. On Wednesday, the domestic equity market extended fall for the second straight session to end lower. The Sensex declined 138.64 points, or 0.17%, to close at 81,444.66, while the Nifty 50 settled 41.35 points, or 0.17%, lower at 24,812.05. Here's what to expect from Nifty 50 and Bank Nifty today: Nifty 50 slipped 0.17% to end at 24,812.05, forming a daily candle with a high wick on the upper side with a small body. 'Nifty 50 again failed to surpass the crucial resistance level of 25,000, concluding the session on a weak note. Despite this intraday pressure, the Nifty remains in a consolidation phase positionally, with 24,700 now serving as a key support level on the downside. On the higher side, the 25,000 level continues to act as a strong resistance,' said Nandish Shah - Deputy Vice President, HDFC Securities. According to Om Mehra, Technical Research Analyst, SAMCO Securities, the Nifty 50 index remained within a tight consolidation band as it has struggled to cross the 25,000 zone over the past few sessions. The absence of follow-through buying reflects hesitation at higher levels. 'Nifty 50 slipped below the 20 EMA, while the broader trend remains intact as the price trades above the 50-Day SMA. The daily RSI has declined further to 53 and continues to exhibit a downward trend from its recent peak of nearly 62. This slope also confirms a bearish divergence, as the price maintained highs but momentum failed to support the move. The ADX remains below 25, and the +DI has now decisively crossed below the –DI, suggesting a weakening trend strength,' Mehra said. A breach below 24,680 could accelerate short-term weakness, while resistance remains at 24,940, followed by 25,000, he added. VLA Ambala, Co-Founder of Stock Market Today said that the Nifty 50 formed a Bearish Shooting Star pattern at the daily time frame, closing the session in the red zone. 'According to technical charts, Nifty 50 was near the 20-day EMA, with its RSI at 52. Nifty 50 could gather support between 24,650 and 24,520 and meet resistance near 24,850 and 24,890,' Ambala said. Bank Nifty index closed 114.60 points, or 0.21%, higher at 55,828.75 on Wednesday, forming a small bull candle with a small upper shadow, signaling consolidation. 'Going ahead, only a sustained close above the 56,000 mark could pave the way for further upside towards the 56,600 and 57,000 levels. However, inability to surpass this hurdle may result in continued range-bound price action between 56,000 and 55,000, with a likely shift in focus to stock-specific moves,' said Bajaj Broking Research. According to the brokerage firm, on the downside, a decisive break down below the 55,000 mark would invalidate the current consolidation structure and open the gates for a retest of the key support zone in the 54,500 – 54,000 region in the coming sessions. Om Mehra highlighted that the Bank Nifty index respected the trendline drawn from the May lows and continues to hold above the Supertrend level of 55,000. 'The daily RSI stands at 53, recovering from lower zones but still below the 60 mark, reflecting a cautious undertone. Meanwhile, the MACD remains in negative territory, but the flattening histogram indicates a neutral stance. The overall formation suggests that the Bank Nifty index is caught between a rising support trendline and a falling resistance trendline, forming a short-term contraction. A directional move is likely once either side is breached. Until then, the price may continue to oscillate within the 55,200 – 56,200 range,' Mehra said. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
18-06-2025
- Business
- Time of India
Stocks to buy today: Indus Towers, Tata Elxsi among 6 trading ideas for 18 June 2025
The Indian market is likely to consolidate on Wednesday, tracking mixed global cues. The Nifty50 index closed 93 points lower at 24,853 on Tuesday. Indian VIX fell nearly 3% to close at 14.40 in the previous session. The daily Relative Strength Index (RSI) has eased to 52, down from recent peaks, suggesting a loss of momentum but not a reversal yet. Meanwhile, MACD remains in negative crossover mode, reflecting the consolidation phase. Technically, the Nifty50 is holding above the 20-day SMA at 24,830, but failed to reclaim the 25,000 zone, which continues to act as a stiff hurdle. 'The price action is largely sideways within a narrow band, showing indecision post the recent recovery,' Om Mehra, Technical Research Analyst, SAMCO Securities, said. 'The immediate support is seen at 24,700, followed by 24,650. On the upside, the 25,000-25,170 range remains a key resistance band; a close above this level may revive bullish sentiment,' he added. The Nifty Bank ended the session at 55,714.15, down 0.41% on Tuesday, forming a mild bearish candle after facing resistance near the 56,000 zone. We have collated stocks from various experts for traders who have a short-term trading horizon: Expert: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas told ETBureau Chambal Fertilisers & Chemicals Ltd: Buy| Target Rs 572| Stop Loss Rs 545 Asahi India Ltd : Buy| Target Rs 787| Stop Loss Rs 738 Indus Towers Ltd : Buy| Target Rs 411| Stop Loss Rs 382 Expert: Kunal Bothra, Market Expert told ETNow PB Fintech Ltd : Buy| Target Rs 1990| Stop Loss Rs 1920 Tata Elxsi Ltd : Buy| Target Rs 6800| Stop Loss Rs 6250 Supreme Industries Ltd : Buy| Target Rs 4770| Stop Loss Rs 4560 ( Disclaimer : Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times) ETMarkets WhatsApp channel )
