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Mint
6 hours ago
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on June 13 after Israel-Iran conflict
The Indian stock market benchmark indices, Sensex and Nifty 50, are likely to open lower on Friday, tracking weak global cues, after Israel launched airstrikes in Iran. The trends on Gift Nifty also indicate a gap-down start for the Indian benchmark index. The Gift Nifty was trading around 24,732 level, a discount of nearly 205 points from the Nifty futures' previous close. Geopolitical tensions in the Middle East escalated after Israel targeted Iran's main enrichment facility in Natanz and the country's ballistic missile programme, as well as top nuclear scientists and officials. On Thursday, the domestic equity market ended lower, with the benchmark Nifty 50 falling below 24,900 level. The Sensex dropped 823.16 points, or 1.00%, to close at 81,691.98, while the Nifty 50 settled 253.20 points, or 1.01%, lower at 24,888.20. Here's what to expect from Sensex, Nifty 50 and Bank Nifty today: Sensex breached the crucial support level of 82,000, and post-breakdown, the selling pressure intensified. On daily charts, it has formed a long bearish candle, which supports further weakness from the current levels. 'We are of the view that the short-term market texture is weak, but a fresh selloff is possible only after the dismissal of 81,500 or below the 20-day SMA (Simple Moving Average). Below this level, Sensex could slip to 81,100 - 81,000. On the other hand, above 81,800, we could expect a quick intraday pullback rally up to 82,000 - 82,150,' said Shrikant Chouhan, Head Equity Research, Kotak Securities. Nifty Open Interest (OI) data shows the highest concentration on the call side at the 25,000 and 25,200 strike prices, indicating strong resistance at these levels. On the put side, significant OI build-up is observed at the 24,800 and 24,700 strike prices, marking these as key support zones, said Hardik Matalia, Derivative Analyst at Choice Broking. Nifty 50 ended the session at 24,888.20, down 1.01%, snapping recent gains and forming a strong bearish candle. 'Nifty 50 index faced rejection near the 25,200 zone and slipped below the 9-EMA, though it continues to hold around the 20-Day SMA. This marks a pause in the ongoing uptrend, hinting at possible consolidation or mild profit booking ahead. The higher highs and higher lows remain intact on the broader time frame, but the bearish engulfing pattern raises near-term caution,' said Om Mehra, Technical Research Analyst, SAMCO Securities. The RSI has dropped from 60 to 55, indicating a decline in momentum. The Average True Range (ATR) has risen slightly, indicating an increase in intraday volatility, he added. According to Mehra, the immediate support for Nifty 50 remains at 24,800; a break beneath this zone could invite a sharper slide, whereas 25,100 remains a formidable ceiling on the upside. Dr. Praveen Dwarakanath, Vice President of said that the Nifty 50 has formed a bearish candle with a spinning top type candle near its resistance of 25,200 level, indicating weakness in the index. 'The index took support at the 24,800 level and recovered from its intraday low. However, the weakness in the index was very significant. A closing well below the Upper Bollinger band is considered to be a weakness in the index. The momentum indicators are also dropping down from the over-bought region adding to the weakness in the index to continue. The RSI negative divergence near the resistance of 25,200, suggests a likely fall towards the immediate support at 24,500 levels,' said Dwarakanath. VLA Ambala, Co-Founder of Stock Market Today expects Nifty 50 to find support between 24,750 and 24,670 and meet resistance near 25,020 to 25,100 in today's intraday session. Bank Nifty index declined 377.20 points, or 0.67%, to close at 56,082.55 on Thursday, extending a corrective decline for the third session in a row as it formed a bear candle with a lower high and lower low highlighting continuation of profit booking after recent strong up move. 'Bank Nifty posted breakout above the recent 5 week broader consolidation range of 56,000 - 53,500 and rallied to a fresh all time high this week. However, profit booking at higher levels saw the index give up its gains and closed Thursday session around the recent breakout area of 56,000. Bank Nifty index is currently trading above its short- and long-term moving averages signaling overall positive bias,' said Bajaj Broking Research. The last four sessions profit booking have helped the index to cool off the overbought condition. The brokerage firm expects the index to hold above the support area of 55,200 - 55,500 and head higher towards 57,000 and 57,700 levels in the coming weeks. Om Mehra noted that the Bank Nifty index saw mild profit booking, pulling back towards the 20-Day SMA, which now acts as immediate support. However, the primary trend remains intact as the price holds well above the medium-term moving averages. 'The RSI has slipped to 58 from higher zones, suggesting some cooling in the momentum, while still staying above neutral territory. The ADX stands at 26, and a slight dip in the +DI line suggests short-term exhaustion. The index is currently hovering near the previous breakout zone of 56,000 – 56,200. A sustained breach below this zone could open the gates for further downside towards the next support at 55,300,' said Mehra. On the upside, 56,700 continues to pose immediate resistance. Currently, caution is warranted, as a break below 55,300 may weaken the trend and shift the near-term outlook to negative, he added. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
2 days ago
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on June 11?
The domestic equity benchmark indices, Sensex and Nifty 50, are likely to have a muted start on Wednesday, tracking mixed global cues. The trends on Gift Nifty also indicate a muted start for the Indian benchmark index. The Gift Nifty was trading around 25,175.50 level, a premium of nearly 14.9 points from the Nifty futures' previous close. On Tuesday, the domestic equity market ended flat, with the benchmark Sensex snapping its four-day winning streak on profit booking, while the Nifty 50 holding above 25,100 level. The Sensex fell 53.49 points, or 0.06%, to close at 82,391.72, while the Nifty 50 settled 1.05 points higher at 25,104.25. Here's what to expect from Sensex, Nifty 50 and Bank Nifty today: Sensex continued narrow range activity and ended lower by 53 points on Tuesday' choppy session. 'Key support zones for traders include 82,000 and 82,100, while 82,400 - 82,600 would act as a key resistance area for the bulls. We are of the view that as long as Sensex trades between 82,000 and 82,600, range-bound textures are likely to continue. A successful breakout above 82,600 could push the index up to 83,000 - 83,200. On the other side, below 82,000, selling pressure is likely to accelerate. Below this level, Sensex could retest the level of 81,700 - 81,500,' said Shrikant Chouhan, Head Equity Research, Kotak Securities. Nifty Open Interest (OI) data shows the highest concentration on the call side at the 25,200 and 25,300 strike prices, indicating strong resistance at these levels. On the put side, significant OI build-up is observed at the 25,000 and 24,900 strike prices, marking these as key support zones, said Hardik Matalia, Derivative Analyst at Choice Broking. Nifty 50 shifted into a consolidation with positive bias in the last couple of sessions, and formed a small negative candle on the daily chart. 'After breaking above the hurdle at 25,000 levels, Nifty 50 was not able to gather momentum to witness a decisive upside breakout on Tuesday. Despite showing choppy movement in the short term, the near-term uptrend setup of Nifty 50 remains positive and a sustainable move above 25,200 levels could open the next upside towards 25,600 levels in the near term. Immediate support is placed at 25,000 - 24,900 levels,' said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. Om Mehra, Technical Research Analyst, SAMCO Securities, said that the Nifty 50 index formed a daily candle strikingly similar to the previous session, with the open and high levels nearly identical, indicating continued hesitation near resistance. 'The session remained range-bound; however, the broader trend retained its positive traction. The 9 EMA has crossed above the 20 EMA, strengthening the bullish setup. The daily RSI remains steady at 61, indicating sustained momentum, while the MACD hovers near a potential bullish crossover. A mild pullback toward the 25,000 – 24,950 zone would be considered healthy within the uptrend. However, sustained weakness may only be seen if the index closes below 24,880,' Mehra said. According to Dr. Praveen Dwarakanath, Vice President of Nifty 50 formed a strong bearish candle engulfing its previous day's high and low, indicating weakness in the index near its resistance of 25,200 level. 'The index has formed a bearish candle on the upper part of the Bollinger band; however, the closing was well below the upper Bollinger band, indicating weakness in the index. Immediate support for the index is at 24,800, where the 20-day moving average is placed. A reversal towards this support can be expected in the coming days,' said Dwarakanath. VLA Ambala, Co-Founder of Stock Market Today said that the broader market retains its bullish undertone, with Nifty 50 touching 25,199 before consolidating sideways in the latest session. 'I advise accumulating on every 2-3% dip. Based on this momentum, we can expect Nifty 50 to gather support between 25,000 and 24,940 and meet resistance near 25,190 and 25,260,' Ambala said. Bank Nifty index declined 210.50 points, or 0.37%, to close at 56,629.10 on June 10, forming a second consecutive small-bodied red candle, reflecting short-term hesitation after the recent sharp up move. 'Bank Nifty index holds firmly above all key moving averages, which keeps the broader trend supportive. The daily RSI stands at 66, indicating that momentum remains healthy. Additionally, the MACD has just entered positive territory. The overall trend remains neutral to bullish as long as the index sustains above the 56,000 mark,' said Om Mehra. A decisive move above 57,050 could open the door for further gains. On the downside, any dip toward the 56,200 to 55,100 zone may act as a cushion and offer support during pullbacks, he added. According to VLA Ambala, Bank Nifty could find support around 56,500 – 56,030 and meet resistance near 57,350 and 57,700 in today's session. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
3 days ago
- Business
- Mint
Nifty 50, Sensex today: What to expect from Indian stock market in trade on June 10
The domestic equity benchmark indices, Sensex and Nifty 50, are likely to open higher on Tuesday, tracking gains in global markets. The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 25,248 level, a premium of nearly 66 points from the Nifty futures' previous close. On Monday, the domestic equity market extended gains to the fourth consecutive session, with the benchmark Nifty 50 closing above the 25,100 level. The Sensex gained 256.22 points, or 0.31%, to close at 82,445.21, while the Nifty 50 settled 100.15 points, or 0.40%, higher at 25,103.20. Here's what to expect from Sensex, Nifty 50 and Bank Nifty today: Sensex has formed a small candle on daily charts, suggesting indecisiveness between the bulls and the bears. 'We are of the view that 82,000 would act as a sacrosanct support zone for trend-following traders. As long as Sensex is trading above this level, the uptrend is likely to continue. On the higher side, it could move up to 82,800 - 83,000. On the flip side, falling below 82,000 would render the uptrend vulnerable,' said Shrikant Chouhan, Head Equity Research, Kotak Securities. Nifty Open Interest (OI) data shows the highest concentration on the call side at the 25,200 and 25,300 strike prices, indicating strong resistance at these levels. On the put side, significant OI build-up is observed at the 25,000 and 24,900 strike prices, marking these as key support zones, said Hardik Matalia, Derivative Analyst at Choice Broking. Nifty 50 shifted into a consolidation with positive bias on June 9 and closed the day higher by 100 points. 'A small red candle was formed on the daily chart that has moved above the broader high low range of the last couple of weeks around 24,500 - 25,000 levels. Nifty 50 is presently stuck at the immediate hurdle of 25,200 levels and there is a higher possibility that the hurdle could be taken out on the upside soon,' said Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities. According to him, the underlying trend of Nifty 50 remains positive, and a sustainable move above 25,200 could open the next upside towards 25,600 levels in the near term. Immediate support is placed at 24,900 levels. Om Mehra, Technical Research Analyst, SAMCO Securities said that the Nifty 50 index formed a small-bodied red candle after testing the resistance zone near 25,160, signalling slight hesitation. The intraday high of 25,160.10 and a close slightly below the VWAP (25,113) indicate mild profit booking at higher levels. 'The index is now trading well above all key moving averages, confirming that the bulls remain in control over the broader term. The daily RSI stands at 61, reflecting a neutral stance, while the MACD fast line is gradually improving from lower levels. A decisive close above 25,160 could push the index towards the 25,260 – 25,320 zone. On the downside, immediate support lies at 24,880, followed by the 50-day simple moving average (SMA) at 24,806, which may act as a broader cushion,' Mehra said. A dip towards these levels may present buying opportunities unless it is breached decisively, he added. VLA Ambala, Co-Founder of Stock Market Today, noted that the Nifty 50 closed near the 25,000 mark, breaking past a key resistance level for the June series. 'Nifty 50 formed a small bearish belt hold candlestick on the daily chart, indicating mild profit booking or hesitation. We can expect Nifty 50 to find immediate support between 25,030 and 24,980 and face resistance near 25,230 and 25,320 in today's intraday move,' Ambala said. Bank Nifty index rallied 261.20 points, or 0.46%, to close at 56,839.60 on Monday, after hitting a fresh record high of 57,049.50 during the session. 'Bank Nifty index formed a bearish candle after an intraday breakout, reflecting mild profit booking near the psychological mark and horizontal resistance zone. Although the intraday session was muted, the broader structure remains strong as the index continues to hold above all key moving averages. The breakout from the ascending triangle pattern on the daily chart remains valid unless the breakout base near 56,100 is breached,' said Om Mehra. The RSI stands at 69, with a positive slope and a recently confirmed bullish divergence that strengthens the upside bias. Meanwhile, the MACD has just triggered a fresh bullish crossover above the zero line, a development that often precedes sustained directional moves, he added. 'The immediate zone to watch on the upside remains 57,200. A decisive close above this may unlock potential towards 57,500 - 57,750, aligning with Fibonacci projections. On the downside, the breakout zone of 56,100 – 56,200 now acts as the first support band. A deeper dip could find a cushion near the 55,800 zone,' said Mehra. Bajaj Broking Research said that the Bank Nifty index formed a small bear candle with a higher high and higher low and a bullish gap below its base (56,695 - 56,792), signaling positive bias and continuation of the up move post breaking above the upper band of the last 6 weeks range (56,000 - 53,500). 'We expect the index to maintain positive bias and head higher towards 57,300 and 57,700 levels in the near term. The short-term structure remains constructive with immediate support placed at 55,900 levels being the Friday's breakout area. While key support is placed at 55,400 - 55,500 levels being the confluence of 20 days EMA and key retracement area,' Bajaj Broking Research said. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
27-05-2025
- Business
- Economic Times
Deploy Bull Call Spread in ITC to gain from bullish setup
ITC shares are currently trading at Rs 442.90 and have recently shown a strong recovery from lower levels, followed by a breakout from a consolidation range on the daily breakout signals renewed bullish strength and a potential shift in market sentiment in favor of the bulls.'The price action, post-breakout, reflects a healthy buildup with sustained interest, indicating room for further upside,' said Hardik Matalia, Derivative Analyst
Hans India
13-05-2025
- Business
- Hans India
Sensex, Nifty open lower as Infosys and Zomato drag
Mumbai: Indian equity indices opened in the red on Tuesday as heavyweights like Infosys, Eternal (Zomato) and Kotak Mahindra Bank were top losers in the BSE benchmark. At around 9:25 am, Sensex was down 444 points or 0.54 per cent at 81,985 and Nifty was down 105 points or 0.42 per cent at 24,817. After a negative opening, Nifty can find support at 24,800 followed by 24,700 and 24,500. On the higher side, 25,000 can be an immediate resistance, followed by 25,100 and 25,200, according to analysts. In the Sensex pack, Sun Pharma, IndusInd Bank, Tech Mahindra, Bajaj Finance, Maruti Suzuki, Titan, HUL and Axis Bank were top gainers. Infosys, Eternal (Zomato), Tata Steel, HCL Tech, Power Grid, UltraTech Cement, Asian Paints, ITC, NTPC, HDFC Bank were top laggards. On the sectoral front, auto, IT, financial services, FMCG, metal, realty and media were major losers. PSU bank, pharma, realty and PSE were major gainers. Marginal buying was seen in the smallcap and midcap stocks. Nifty midcap 100 index was up 20 points to 55,437 and Nifty smallcap 100 index was up 38 points to 16,805. Following yesterday's stupendous rise, Indian benchmark indices will likely consolidate recent gains, while we anticipate continued buyer interest in mid-cap and small-cap stocks at lower levels, according to Devarsh Vakil, Head of Prime Research at HDFC Securities. Most Asian stock markets were trading in green. Tokyo, Bangkok, Seoul and Shanghai were major gainers. However, Hong Kong was in red. The US markets closed in the green as investors cheered a sharp de-escalation in the U.S.-China trade war. America main indices Dow was up 2.81 per cent and technology index Nasdaq was up 4.35 per cent in the last trading session. The foreign institutional investors (FIIs) purchased equities of Rs 1,246 crore on May 13, while domestic institutional investors (DIIs) also bought equities of Rs 1,488 crore on the same day. 'Given the current market dynamics, traders are advised to adopt a disciplined approach with strict risk management, focusing on short-term trading opportunities. Considering prevailing global uncertainties, it is also prudent to avoid large overnight positions and enforce tight risk controls,' said Hardik Matalia, Derivative Analyst, Choice Broking.
