Nifty 50, Sensx Today: What is expected from the Indian stock market in trade on 18 February? Stock market news

The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open on a weak note on Tuesday, tracking signs mixed with global peers.

Gift Nifty’s trends also indicate a mild negative start for the Indian benchmark index. The gift Nifty was trading around 22,995 levels, exemption of about 30 points from the previous close of Nifty Futures.

On Monday, the domestic equity market ended with a slight advantage and the benchmark indices broke the streak of eight-day necklaces.

Sensex 57.65 points, or 0.08%, to close at 75,996.86, while the Nifty was more than 50.25 points, or 0.13%, more than 22,959.50.

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

Sensex prediction

Sensex took support near 75,300 and on Monday raised back to a rapidly shutdown.

“However, the market’s short -term texture is still on the negative side. We are of the idea that until long Sensex Trade above 75,500, pullback formation is likely to continue. On the high side, it can grow up to 76,200. Apart from this, the opposite may also continue, which can lift the index up to 76,500, ”Srikanth Chauhan, Head Equity Research, Kotak Securities said.

On the other hand, they believe that the feeling below 75,500 can change and below that, the index may slip up to 75,300 – 75,000.

Nifty Oi Data

The Nifty Open Interest (OI) shows strong support at 22,800 and 22,600, with the highest put OI at these levels. Inverted, 23,300 and 23,500 capture the highest call OI, indicating rigorous resistance. A decisive brakeout above 23,500 can trigger low coverings and fresh purchases, allowing the index to be pushed towards a higher level, the choice of broking research analyst Mandar Bhojen said.

Nifty 50 prediction

On February 17, the Nifty 50 was terminated at 0.13% 22,959.50, which led to a rapid candle with a large bachelor on the negative side, indicating the purchase interest and a potential inverted formation.

“The Nifty 50 index closed at least more than the day, which operated by purchasing interest at the lower end of the border. However, the spirit remains weak as it has failed to recover the major fibonaccissy retracement level. Additionally, the index continues to trade below the critical moving average, strengthening the venture of the overall recession, ”said DE, Senior Technical Analyst of LKP Securities.

In short term, Nifty 50 The index is likely to sell until it crosses above 23,150 on a closing or constant basis. On the negative side, the support is placed at 22,800, he said.

Om Mehra, a technical analyst of Sampo Securities, said the Nifty 50 is currently taking support from the Lower Bollinger Band, highlighting the possibility of a rebound.

“Additionally, daily RSI displays a positive deviation, which further strengthens the capacity for an inverted step. However, to maintain the speed of boom, the Nifty 50 index needs to cross the immediate hurdle at 23,150. A decisive breakout above this level could move further towards 23,250, the next major resistance is seen at 23,330, ”said Mehra.

According to him, on the negative side, 22,725 remains a significant support level and a violations under the region can deny recovery attempt, which can increase new sales pressure that can reduce the index.

The Nifty 50 has been deployed near a major support level, while the index formed a death cross chart pattern and closed at 50-week EMA (Exonential Moving Average) on Monday, suggesting possible negative risks , Highlight the co-founder of the stock market, VLA Ambala. Today.

“In this case, investors are advised to advise a sales-on-raise strategy to capitalize on this movement, in which 22,800 serve as the major support level. However, if the Nifty 50 is closed below this level, it can trigger the feelings of recession in the market. Nifty 50 can expect support near 22,740 and 22,600 and complete resistance near 23,030 and 23,100, ”Ambala said.

Bank nifty prediction

Bank Nifty secured 159.45 points or 0.32%on Monday to close at 49,258.90, making a rapid candlestick pattern on the daily chart.

“Bank Nifty demonstrated flexibility after testing 49,000 levels below last week, without closing it below. This suggests strong support at lower levels and a possible change in speed. Bank nifty The index formed a rapid candle on the daily chart, reflecting the possibility of a reversal. In addition, the Nifty Bank is now above the 50% Fibonacci Retress level, which is placed at 49,230, highlights its short -term strength, ”said Om Mehra.

If the bank is above 49,520, it can try to resume 49,800 – 50,000 zones in further traction and upcoming sessions. He said that a decisive breakout beyond this limit could open the door for an extended uptrend.

Disclaimer: The views and recommendations made above are of individual analysts or broking companies, not Mint. We recommend investors to investigate with certified experts before taking any investment decisions.