Nifty 50, Sensx Today: What is expected from the Indian stock market in trade on 13 February? Stock market news

The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open on a flat note on Thursday after mixed global market signals.

The trends of gift nifty indicate a mildly positive start for the Indian benchmark index. The gift Nifty was trading around 23,135 levels, a premium of about 12 points from the previous close to the Nifty Futures.

On Wednesday, the domestic equity market eliminated low amid high volatility, expanding its loss for the sixth consecutive session.

Sensex 122.52 points fell, closed at 76,171.08, while the Nifty was reduced to 50 26.55 points, or 0.12%, at 23,045.25.

What to expect today from Sensex, Nifty 50 and Bank Nifty:

Sensex prediction

The benchmark indices watched the intraday recovery on Wednesday and the senses decreased by 123 points.

“Technically, after an intraday improvement after morning, Sensex 75,400 supported the support area and rapidly bounced back. From the lowest levels of the day, it scored about 780 points. Additionally, Sensex formed a long-legged Doji candle, indicating indecency between the bull and the bear. We think that as long as Sensex is trading above 75,500, the pullback formation is likely to continue, ”Srikanth Chauhan, Head Equity Research, Kotak Securities said.

On the high side, they believe, Sensex can bounce back to the 76,700 – 76,800 range. Conversely, if the index falls below 75,500, sales are likely to accelerate.

“If this happens, Sensex can recover the level of 75,000. Further negative movement may also continue, potentially pulling the index down by 74,700, ”Chauhan said.

Nifty Oi Data

In the derivatives market, the Nifty Open Interest (OI) data revealed the highest call OI in the 23,300 strikes, while the put side saw the highest OI on 23,000 strikes.

“This suggests that the Nifty 50 may face resistance near 23,300 levels, the position for further benefits with the traders. A permanent step over these major levels would be important in determining the next direction of the market, “said Akash Shah, a technical research analyst of Choice Broking.

Nifty 50 prediction

The Nifty 50 saw high volatility and smart upset recovery on 12 February and reduced the day by 26 points.

“A small negative body candle was made on the daily chart with small upper and long lower shade. Technically, this pattern indicates the formation of ‘long -legged dosy’ type candle patterns (not one). This market indicates indifference on action ups and indicates. Generally, such structures like a long -legged Doji pattern after a proper decline indicate the possibility of confirmation of the posts below, ”said Nagraj Shetty, Senior Technical Research Analyst of HDFC Securities.

According to him, the underlying trend Nifty 50 Still weakened, but interesting pattern formation in support of 22,800 may indicate the possibility of patterns inverted from current levels or from minor climbing.

“Confirmation of inverted patterns may probably open a large -scale bounce in the market. Immediate support is placed at 22,800 levels. A permanent step above 23,150 – 23,200 levels may open more upside down for short -term, ”Shetty said.

Om Mehra, Technical Analyst, Social Securities, said that on the Daily Chart, the Nifty 50 formed a dragonfly doji, which reflects inconvenience.

“The daily RSI has slipped to 40, indicating a decline in speed. The Nifty 50 stays below the major moving average, highlighting a weak outlook. The broader tendency is making a slowdown until a decisive is closed above 23,500. However, the chart per hour indicates a potential short-term rebound, with a brake above 23,150, one is likely to move upwards towards 23,320–23,400 range, ”said Mehra.

Bank nifty prediction

The Bank Nifty Index on Wednesday increased by 76.05 points or 0.15%to shut down at 49,479.45, attempted to stabilize after a recent decline.

“On the daily chart, Bank nifty The index formed a dragonfly doji, indicating indiscriminate, but indicates on a potentially inverted, if the interest buying is strong. However, the index remains below the major moving average, suggests that a decisive recovery is yet to take shape. The bank is above the Nifty 49,270 23.6% Fibonacci is above the retracement level, indicating close-term support, ”said Om Mehra.

According to him, RSI shows some flexibility, which is located below 50, reflects a possible change in speed.

“The clock chart suggests a positive setup per hour, until 48,730 is violated, an upside -down step with a possibility of 50,150. Mehra said the short -term trend is neutral to a slightly negative, but a pullback is expected in the next session, provided that the major support level firm is, ”said Mehra.

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