Nifty 50, Sensex Today: What to expect from Indian Stock Market in Trade on June 18?

NIFTY 50, Sensex Today: The Indian Stock Market Benchmark Indices, Sensex and Nifty 50, Are Likely to Open Lower Wednsday, Tracking Weak Global Market Cues.

The trends on gift nifty also indicate a tepid start for the Indian Benchmark Index. The gift nifty was trading Around 24,834.50 level, a discount of nearly 34.3 points from the nifty futures’ Previous Close.

On Tuesday, The Domestic Equity Market Ended Lower, with the Benchmark Nifty 50 Closing Below 24,900 Level.

The sensex declined 212.85 points, or 0.26%, to close at 81,583.30, while the nifty 50 settled 93.10 points, or 0.37%, lower at 24,853.40.

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

Nifty 50 prediction

Nifty 50 formed a bearish candle after Facing Resistance Near The 25,000 – 25,170 Zone on June 17.

“Nifty 50 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 concerned sideways with Post the recent recover Line, highlighting subdued strength. Samco Securities.

According to Him, 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 Bully Bully.

Nandish Shah, Senior Derivative & Technical Research Analyst, HDFC Securities, Noted that the Nifty 50 Failed In Its Attempt to Breach the Crucial Resistance Level of 25,000, CONCOLUDING The SESSSION ON A A AONAK Note.

“Despite this Intraday Pressure, The Nifty 50 Technically Remains in a Consolidation Phase Positionally. Traders should keep a close a close eye Downside, “said shah.

Vla Ambala, Co-Founder of Stock Market Today that the Nifty 50 FORMED A Dark Cloud Cover Candlestick Pattern on the Daily Chart, Signaling a potential pause and remorse in the Recent.

“We can expect the nifty 50 to gain support between 24,730 and 24,650 and Meet Resistance Near 25,080 to 25,150 in Today’s Market Session,” Ambala Said.

Bank nifty prediction

Bank Nifty Ended 230.75 points, or 0.41% lower at 55,714.15, Forming a bear candle on the daily chart signaling Profit Booking Around 56,000 Levels AMID AMID AMID ACCELITION OF TENSINSUNS Middle East.

“Going ahead only a sustained close Above The 56,000 marks should Pave the way for further UPSIDE TOWARDS The 56,600 and 57,000 Levels. However, Inability to Surpass this Hurdle May Result in Constinued-Bounded Price Action Between 56,000 and 55,000, with a likely shift in focus to stock-specific moves, ”said bajaj broking research.

On the downside, a decisive break down below the 55,000 marks would invalidate the current consolidation structure and open the gates for a restest of the key support zone in the 54,500-54,000 region in the completion. Key supports are placed Around 54,500-54,000 Levels Being the Confluence of the 50 Days Ema and the Key Retracement Area of ​​the Previous UP Move (53483-57049), the brokerage firms added.

Om mehra noted that the bank nifty index is hovering near 20-day ema and the midline of the bollinger band, signalling a zone of congestion with the decline trendline.

“The Daily RSI Has Eased To 52, Down from Recent Peaks, Suggesting a Loss of Momentum But Not A Reversal Yet. Meaning is seen at 55,350, and a breach below this zone may push the index plan 55,000.

Until a clear breakout on eater side obcurs, nifty bank may remin range-bound, with a slight bearish tilt unless it closes decisively about 56,100, he added.

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