Nifty 50, Sensex Today: What to expect from Indian Stock Market in Trade on June 16 AMID Israel-Airan War

The Indian Stock Market Benchmark Indices, Sensex and Nifty 50, Are Likely to Track Mixed Trend in Global Markets on Monday as Sentiments Remains Cautious AMID The Escaleting CONFLICT In the Middle Easti Israel -ran war.

The trends on gift nifty indicate a positive start for the Indian Benchmark Index. The gift nifty was trading Around 24,791 Level, a Premium of Nearly 65 Points from the Nifty Futures’ Previous Close.

On Friday, the domestic equity market ended lower for the second CONSECUVE SESSION, with the Benchmark Nifty 50 Closing Below 24,800 Level.

The sensex declined 573.38 points, or 0.70%, to close at 81,118.60, while the nifty 50 settled 169.60 points, or 0.68%, lower at 24,718.60.

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

Sensex prediction

Sensex formed a long bearish candle on the weekly charts, and is currently trading comfortable below the 20-day SMA (Simple Moving Average), which is largely negative.

“We believe that as long as senses remains below the 20-day SMA or 81,600, Weak Sentment is Likely to Continue. On the downside, the Index Could Retest the Level of 80,500.500. Accelerate Selling Pressure. Below this level, Sensex could slip to the 50-day sma around 79,900, “Said amol Athawale, VP-Technical Research, Kotak Security.

On the UPSIDE, He Believes a Break Above 81,300 Block Extended The Pullback Move up to 81,600. Further Gains May also Continue, Lifting Sensex Toward 81,900 – 82,100.

Nifty oi data

In the derivatives segment, the highest nifty call open interest (OI) is concentrated at the 24,800 and 25,000 striks, suggesting strong resistance Around these Levels. On the downside, the highest put open interest is seen at the 24,600 and 24,500 striks, indicating strong support and traders’ Confidence in Holding these levels, Choice Brooking Said.

Nifty 50 prediction

Nifty 50 Ended Below 24,800 Level on June 13, and formed a bearish engulfing pattern on the weekly timeframe.

“The short-term trend of nifty 50 is negative, but the medium-term trend remains positive. BELOW 24,500 Cold Possibly Trigger a Sharp Selloff. Senior Technical Research Analyst at HDFC Securities.

Om Mehra, Technical Research Analyst, Samco Securities Highlighted that NIFTY 50 has slipped below both the 9-day and 20-day expensive moving average, indicating a wakening Near-third.

“The Daily Relative Strength Index (RSI) has cooled off to the neutral 50 mark, hinting at indexion, while the macD remains skewed to the downside with a widering next Bearish Undertones Around 24,920.

Hrishikesh Yedve, AVP Technical and Derivative Research, Asit C. Mehta Investment InterrMed uses Ltd. Said that the nifty 50 formed a bulish marubozu candlestick pattern on the daily chart near the short-term consolidation base, indicating strength.

“Hence, the 24,500 level will act as immediative support for the index, while on the UPSide 25,000 – 25,200 zone will act as a major hurdle. As long as the Index Holds 24,500, Short TERM TRADers ARE Advised to adopt a buy-on-diaps strategy, “Yedve said.

According to Vla Ambala, Co-Founder of Stock Market Today, NIFTY 50 is Expected to Find Support Between 24,450 and 24,330 and 24,330, While Facing Resistance in the Range of 24,750 to 24,750 to 24,750 to 2460 toDay ‘ Session.

“In the coming week, market participants may view dips in the nifty 50 index as potential buying options for the long term. Developments to develop suitable strategies, ”Ambala said.

Bank nifty prediction

Bank nifty index dropped 555.20 points, or 0.99%, to end at 55,527.35 on Friday. On a weekly Basis, The Index Declined 1.86%, Snapping a Four-Very Winning Streak, and formed a bearish engulfing pattern on the weekly chart.

“Bank Nifty Index Closed Below The 21-Day EMA, Indicating Short-Term Profit Booking. However, It Continues to Hold Above The Crucial 55,000 Support Zone and the Previous All-TIME HIGH SUPPT NEARS 54,500. Could Trigger a Fresh Rally Toward 56,600, “said puneet singhania, Director at Master Trust Group.

He Advises Traders to Watch for Price Action Near Support Zones for Potential Entry Opportunities.

Bajaj Broking Research said in a note that the bank nifty index, on the weekly chart, formed a sizable bear candle signaling Profit Booking at Higher Levels Around 57,000 Levels.

“A move and a close below Friday’s low of 55,150 levels will open further downside towards 54,500 – 54,000 levels in the coming sessions. Confluence of 50 Days Ema and the Lower Band of the Recent Consolidation Range.

On the higher side 56,000 remains a key hurdle, only a move Above the same will signal a pause in the current corrective decline, “said Bajaj Broking Research.

According to HRISHIKESH YEDVE, Bank Nifty Index Found Support Near the 34-day EMA and FORED A BULLISH BELT HOLT HOLD Candlestick Pattern on the Daily Chart, Indicating Strength.

“Immediate support for the bank nifty is placed near 55,150 (34-dima), while resistance is seen near 57,050. Traders are advised to Follow a buy-ordered as the index the index Holds Above 55,150, “Yedve said.

Disclaimer: The views and recommendations made about individual analysts or broking companies, and not of Mint. We Advise Investors to Check With Certified Experts Before Making Any Investments Decisions.