Nifty 50, Sensex Today: What to expect from Indian Stock Market on June 9 Ahead of Us-China Trade Talks

The Indian Stock Market Benchmark Indices, Sensex and Nifty 50, Are Likely to Open Higher on Monday, Tracking Upbeat Cues from Global Markets, Amid Optimism Over us-Chinta Talks.

The trends on gift nifty also indicate a positive start for the Indian Benchmark Index. The gift nifty was trading Around 25,175 Level, A Premium of Nearly 80 Points from the Nifty Futures’ Previous Close.

On Friday, The Domestic Equity Market Ended Higher, with the Benchmark Nify 50 Closing Above The 25,000 Level, after the Reserve Bank of India (RBI) Cut REPO RATE BY 50 Basis points (bps) to 5.50% and als Reduced the Cash Reserve Bank (CRR) by 100 BPS to 3%.

The sensex surgged 746.95 points, or 0.92%, to close at 82,188.99, while the nifty 50 settled 252.15 points, or 1.02%, at 25,003.05.

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

Sensex prediction

Sensex formed a double bottom reversal pattern on daily charts and is currently trading comfortable about Above The 20-Day SMA (Simple Moving Average), which is brought is larger. In addition, a long bulish candle has formed on weekly charts, supporting the possibility of further uptrend from the current levels.

“We believe that 20-day sma, around 81,600, will act as a trend-decider level. As long as sensex remains about this Level, The Bullyn Formation Is Likely to Continue, with 82,600 Serving The immediati resistance zone for short-term traders. Securities.

Convercely, If Sensex Falls Bells 81,600, Sentiment Cold Change, and the Index May RETEST The 80,600 Level. Further Downside Could Extend, Potentially Dragging Sensex Down to 80,200.

Nifty 50 prediction

Nifty 50 witnessed sharp upmove on June 6 after the outcome of RBI’s Mid Quarter Policy Meet and Closed the Day with Decent Gains of 252 Points.

“A long bull candle was formed on the daily chart that placed it at the edge of a decisive upside breakout of the broader range movement at 25,000 – 25,100 levels. Nifty 50, on the weekly chart After the Minor Dip of Previous Two Weeks. The Weekly Chart Formation A Bully Method Type Pattern, Which is an uptrend Continuation Pattern, “Said Nagaid Nagaid Nag Shern Research Analyst at HDFC Securities.

According to Him, The Next UPSide Levels to be Watched for Nify 50 Are Around 25,200 and 25,500 Levels This Week. Immediate support is placed at 24,850 levels.

Om Mehra, Technical Research Analyst, Samco Securities Said That The NIFTY 50 FORMED A Strong Bully Candle on the Daily Chart, decisively crossing and sustaining worth the Earlier Resistance Zone of 24,900.

“This breakout, Accompanied by a weekly gain of 1.02%, underpins the underlying bulish tone and signals the continuation of upward momentum. The Index is NOW Comfortably POSTABLY POSTIBLY POSTIBLY POSTABLY POSTABLY POSTABLY POSTIL Widening gap from the 20 ema offering an additional cushion for any short-term pulbacks. Momentum, “Mehra said.

The resistance is Seen Near 25,120, and a Sustained Move Above This could Pave the way for Further Gains in this Coming Week. On the downside, support has shifted towards 24,880-24,900, which now acts as a boy-on-diap zone, added mehra.

Dr. Praveen Dwarakanath, Vice President of Hedged.in Noted that NIFTY 50 FORMED A Strong Bulish Candle and Closed 100 Points Away from Its Resistance.

“The index has to break the 25,150 level to Gain Significant Momentum towards the 25,700 level, Till then one can look to short the index at present levels with a target of support at Dwarakanath.

According to Vla Ambala, Co-Founder of Stock Market Today, The Current Upward Trend May Continue For A While and Nifty 50 Cold Find Find Support Between 24,970 and 24,970 and 24,970 and 24,970, And EXTEREENCE Resistance Resistance Resistance Resistance Resistance Resistance Close to 25,200 and 25,280 in Today’s Session.

Bank nifty prediction

Bank Nifty Index Rallied 817.55 points, or 1.47%, to close at 56,578.40 on Friday, while it ended the week with a 1.49% Gain.

“Bank Nifty Broke out of a Six-White Consolidation Phase and Hit Fresh Ale-Time Highs. The Index is Trading Above Its Its 21-Day and 55-DAY Emas, Reinforcing the positive momtum. Strong but Sustainable Buying Interest. Key Support Lies at 56,100 Any Breakdown Below This Level could see the Index Slide Further Toward 55,600. A Decisive Move Above This May Open the Door for a Rally Toward 57,500, “said puneet singhania, Director at Master at Master Trust Group.

He believes the overall setup remains positive, and sugges traders to look to buy on Dips.

Bajaj Broking Research said in a note that the bank nifty index formed a strong bull candle in the weekly chart as it generated a breakout above After Recent Consolidation.

“We expect the index to maintain positive bias and head higher towards 56,700 and 57,200 levels in the Near Term. The short-term structure remains constructive will supported at 55,900 Levels being the Friday’s Breakout Area. While Key Support is Placed at 55,200 Levels Being The Confluence of 20 Days Ema and Key Retracement Area, “It added.

According to amol athawale, for bank nifty, a range breakout formation on daily charts sugges sugges potential for further uptrend.

“For Trend-Following Traders, The Key Support Zones Are Ar Around 56,000 and 55,500. Above These Levels, The Index Cold Continue Its Its Positive Momentum towards 57,200-57,7,700-57,700-57,700. Falls Bell 55,500, The uptrend may become vulneable.

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