Nifty 50, Sensex Today: What to expect from Indian Stock Market in Trade on June 17

The Indian Stock Market Benchmark Indices, Sensex and Nifty 50, Are Likely to Open Lower Tuesday, Tracking Mixed Global Market Cues.

The trends on gift nifty also indicate a weak start for the Indian Benchmark Index. The gift nifty was trading Around 24,974 Level, a discount of Nearly 22 points from the nifty futures’ Previous Close.

On Monday, The Domestic Equity Market Ended Sharply Higher, with the Benchmark Nifty 50 Closing Above The 24,900 Level.

The sensex surgged 677.55 points, or 0.84%, to close at 81,796.15, while the nifty 50 settled 227.90 points, or 0.92%, higher at 24,946.50.

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

Nifty oi data

NIFTY Open Interest (OI) on the call side is concentrated at the 25,000 and 25,200 strike prices, suggesting these legs as key resistance zones. On the put side, Significant Oi Build-up is Seen at the 24,900 and 24,800 Strike Prisis, Highlighting these as important support levels, said hardik matalia, Derivative ANALY ANALY ANALY ANALY ANALY ANALY ANALY ANALY Analy.

Nifty 50 prediction

Nifty 50 witnessed an excellent follow-through upmove action on June 16 and close the day higher by 227 points.

“A long bull candle was formed on the daily chart that has surrounded the hurdle of the recent opening downside gap area at 24,825 levels. Levels and is currently moving up from the lower range towards the upper range area, “said nagaraj shetti, Senior Technical Research Analyst at HDFC Securities.

He believes the underlying trend of nifty 50 continues to be positive, and after the formation of short-term bottom bottom resersal at 24,473 Levels on Friday, Nifty 50 is expected to movewards the next Hurdle of 25,100 – 25,200 Levels in the Next Few Sessions. Immediate support is placed at 24,800.

Dr. Praveen Dwarakanath, Vice President of Hedged.in said that nifty 50 covered the gap between 24,900 and 24,700 in yesterday’s rally, forming a bullish candle; However, the Index Continues to Trade in the range of 24,500 and 25,200.

“The options writers’ data also sugges a range-bound move in the index for now. Nifty 50 index is bouncing from the support at the 24,500 levels resistance Stochastics Continued to Fall even Thought the Index Rallied UPSIDE, Indicating the UPSIDE Momentum is Limited to its resistance level. No clear trend in the index.

According to Vla Ambala, Co-Founder of Stock Market Today, NIFTY 50 FORMED A BULLISH Marubozu Candlestick Pattern at the Daily Time Frame and CONCLUDED Above Last Week’St Week’s

“This development offered a boost to the market sentiments. Try to protect the range Range Could Present Buying Opportunities, “Ambala said.

Reviewing these asspects, ambala expects nifty 50 to gather support between 24,900 and 24,750 and 24,750 and meet resistance Near 25,180 and 25,250.

Bank nifty prediction

Bank Nifty Index Gained 417.55 Points, OR 0.75%, to Close at 55,944.90 on Monday, Snapping Its Four Consective Sessions of Losses.

“Bank nifty formed a bull candle with a higher high and higher low and in the process filled its friday’s gap down area and 20 days ema. In the coming session a move above 56,000 Levels canr Towards 56,600 and 57,000 levels. Fail to do so will lead to consolidation in the range of 56,000 – 55,000 AMID Stock Specific Action, ”Bajaj Broking Research Said.

On the downside only a breach below 55,000 levels will open downside towards the key support are 54,500 – 55,000 in the coming sessions, the brokerage firm added.

Om Mehra, Technical Research Analyst, Samco Securities Noted that the bank nifty index formed a bullish candle on the daily chart, rebounding from the recent swing low of 55,149.30.

“Bank nifty index has reclaimed the 20-day sma and close above the 38.2% fibonacci retracement level at 55,840, drawing from the recent high. The Index is Currently Hoovering Justry House 56,100 mark, which coincides with the 50% retracement level, a key resistance zone in the short term. Said.

On the downside, the 20-day ema and the 23.6% retracement at 55,475 Now services as immediative support levels. The rsi has recovered to 55, from the lower levels. However, the macD remains in negative territory with a slight narrowing of the history, he added.

“Overall, a decisive close about 56,200 would strengthen bully

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