Nifty 50, Sensex Today: What to expect from Indian Stock Market in Trade on June 12

The Indian Stock Market Benchmark Indices, Sensex and Nifty 50, Are Likely to Open Lower on Thursday, Amid Cutious 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 25,171 level, a discount of nearly 40 points from the nifty futures’ Previous Close.

On Wednsday, the domestic equity market ended marginal Higher, with the Benchmark Nifty 50 Closing Above The 25,100 Level.

The sensex gained 123.42 points, or 0.15%, to close at 82,515.14, while the nifty 50 settled 37.15 points, or 0.15%, higher at 25,141.40.

Here’s what to expect from senses, nifty 50 and bank nifty today:

Sensex prediction

Sensex Ended 123 points Higher on Wedsday after Experience Selling Pressure Near The 82,700 Levels.

“On Daily Charts, Sensex has formed a small doji candlestick pattern, indicating indexiveness between the balls and bears. Range -bound behavior is likely to continue. Securities.

On the other hand, he believes, seling pressure is likely to accelerate below 82,000. If Sensex Falls Bell This Level, It Cold Slip to the 81,700 – 81,500 range.

Nifty oi data

NIFTY Open Interest (OI) Data Shows the Highest Concentration on the call side at the 25,200 and 25,300 strike prices, indicating strong resistance at these levels. On the put side, Significant Oi Build-up is observed at 25,100 and 25,000 strike prisles, marking these as key support zones, said Hardik Matalia, Derivative Analyst at Choice Broking.

Nifty 50 prediction

Nifty 50 continued to face Hurdle Around 25,200 Level on June 11 and Closed the Day Higher by 37 Points Amidst Choppy Movement.

“A small green candle was formed on the daily chart with a long upper shadow. Technically this market action indicates a range bound action in the market at the high 24,500 – 25,000 Levels recently, the market has failed to regain upside momentum post breakout in the last few sessions, “Said Nagaraj Shetti, Senior Technical Research Analyst at HDFC SECURITIES.

According to Him, The Near-Term uptrend of Nify 50 Remains Intact and the Market is Currently Facing Stiff Resistance Around 25,200 Levels.

“A Sustainable Move Only Above 25,200 is Likely to Pull Nifty 50 Towards Another Hurdle of 25,600 in a Quick Period of Time. ImmediaTe Support is Placed at 25,000 Levels,” Shettiti.

Dr. Praveen Dwarakanath, Vice President of Hedged.in, Noted that Nifty 50 FORMED A Spinning Top Type Candle Near Its Resistance of 25,200 Level, Indicating Rejection from the Residence.

“The Index Rose Above The Upper Bollinger Band, but would not sustain the level, indicating weakness in the index. The stochastics has moved to the over-bogt region, indicating a small also revol Index on the risk.

Vla Ambala, co-founder of stock market today said that the nifty index showed signs of indexation in the market by forming a high wave do not doji candlestick pattern on the daily chart, and ever 25,100 mark.

“This pattern usually sugges the market is facing some resistance, but a breakout count be around the corner. Buy-on-Dips Strategy for Now. Face Resistance Between 25,220 and 25,300, ”Ambala said.

Bank nifty prediction

Bank Nifty Index Extended Its Decline for the Third Consecurable Session and Ended 169.35 points, or 0.30%, lower at 56,459.75.

“Bank nifty index formed a small bear candle with a lower high and low highlighting Profit Booking After Recent Strong Up Move. Bank nifty has recenty Last 6 Weeks Range (56,000 – 53,500).

According to the brokerage firm, the short-term structure remains constructive with immediative support placed at 55,900 levels being the last friday’s breakout area. While Key Support is Placed at 55,400 – 55,500 Levels Being The Confluence of 20 Days Ema and Key Retracement area.

According to Vla Ambala, Bank Nifty Ended The Day Near 56,500 and Formed A Bearish Pattern Know as “Three Black Crows” on the Daily Chart, which Sugges Profit Booking.

“Still, Bank Nifty Hit a Fresh All-Time High, Supported by REPO RATE CUTS Investments. BANK NIFTY May Test the 56,100 and 55,550 range over the next 2 to 5 trading sessions, ”Ambala Said.

Om mehra believes that the bank nifty index appears to be undergoing a minor correction, which may extend the previous support zone near 56,100 before responses upward MOVE.

“Nifty Bank Holds Above All Key Moving Averages, Indicating That The Browder Trend remains into. Continuation Once Consolidation Ends. The support is seen at 56,100, Followed by 56,000. Range-bound movement may continue in the upcoming session, Unless Key Supports Are Breed, ”Said Mehra.

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