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Nifty 50, Sensex today: What to expect from Indian stock market in trade on December 26
The trends on Gift Nifty indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 21,420 level as compared to the Nifty futures’ previous close of 21,385. The Indian stock market indices, Sensex and Nifty 50, are likely to open higher on Tuesday amid mixed global market cues. The trends on Gift Nifty indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 21,420 level as compared to the Nifty futures’ previous close of 21,385. On Friday, the domestic equity indices ended higher tracking positive cues from global peers. The Sensex surged 241.86 points to close at 71,106.96, while the Nifty 50 settled 94.35 points, or 0.44%, higher at 21,349.40. On a weekly basis, Nifty 50 closed 0.5% lower after making a large high-low candle. “Technically, the short-term texture of the market is volatile hence; level based trading would be the ideal strategy for day traders. We are of the view that, as long as the index is trading above 21,200/70,700 the pullback formation is likely to continue. Above the same, the market could move up till 21,500-21,550/71,500-71,650," said Amol Athawale, Vice President - Technical Research, Kotak Securities. Here’s what to expect from Nifty 50 and Bank Nifty today: Nifty 50 Predictions The Nifty 50 index remained volatile but managed to close above the crucial level of 21,300 on December 22. “The lower-end support for the index is positioned at 21,200, presenting a buying opportunity on any dips toward this level. Sustaining above 21,300 could pave the way for further upside momentum, targeting the 21,500 level," said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities. Bank Nifty Predictions The Bank Nifty index underperformed on Friday and declined 348 points to close at 47,492. “The Bank Nifty index faced selling pressure on the last day but managed to hold the key support level of 47,400. If the index fails to sustain above this support, it could witness further decline toward the 47,100 levels. On the upside, the immediate resistance is at 47,700, and a breakout above this level may trigger short-covering, pushing the index higher toward 48,000/48,200 levels," said Shah. Source - Mint
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