The Indian stock market is expected to open lower on Wednesday and locate the global market ways. The tendencies on gift Nifty also indicate a negative start to the Indian measure index. The Gift Nifty traded about 25.177 level, a discount of nearly 79 points from the Nifty Futures’ previous closure. The domestic stock market indices expanded their loss of loss for the third consecutive session on Tuesday and ended with marginal losses, with Nifty 50 criterion slipping below 25,200 level. The Sensex fell by 57.87 points, or 0.07%, to close at 82,102,10, while the Nifty 50 32.85 points, or 0.13%, lower at 25,169.50. Here’s what you can expect from Sensex, Nifty 50 and Bank Nifty today: Sensex Prediction Sensex got support almost 81,800 and rinsed sharply, but couldn’t achieve higher levels. “We believe that the intraday market texture is volatile and non -direction; so the level -based trading is the ideal strategy for day traders. On the higher side, a break above 82,350 is likely to maintain bullish momentum. Above this level can move to 82,600 -82,800. Shrikant Chouhan, Head Shares -Research, Kotak Securities. Nifty 50 Prediction Nifty 50 forms a clumsy candle characterized by a minor upper shade and a long lower shade on the daily card. A reasonable negative candle is formed on the daily map with an upper and lower shade. Technically, this market action indicates a formation of a high wave -type Christmas pattern, which indicates a high volatility in the market. Normally, such pattern formation after a reasonable decrease indicates the chances of the short-term bottom reversal in the underground, ‘says Nagaraj Shetti, senior technical research ananalst anly to HDFC Securities. According to him, the healthy downward correction of the last few sessions seems to end in the short term, and the Nifty 50 is expected to find an important support, while one can expect a return from the lows in the upcoming sessions. Supeep Shah, Head of Technical Research and Derivatives at SBI Securities said the Nifty 50 index is currently trading above its important moving averages. However, the momentum indicators indicate sideways. “Continue, the zone of 25.270 – 25,300 will act as an immediate obstacle to the index. Any sustainable move above the level of 25,300 will lead to a sharp upside rally to the 25,450 level. While the index of 25,080 – 25.050 will perform,” says Shah. Research), Center Broking Ltd. A setback to the 25,300-25,400 zone probably. Bank Nifty Prediction Bank Nifty Index closed 225.00 points, or 0.41%, at 55,509.75 on Tuesday, which formed a bullkers, which highlights the demand for the purchase of the EMA of 50 days. “Banknifty index has moved back above the 50-SMA placed near 55,440 and is comfortable above the 9 EMA, which emphasizes the strength in the ongoing trend. The Fibonacci Ret Grid emphasizes immediate resistance to 55,850, with support zones now at 55.200. Stop, with the recovery of the recent dip, while the MACD remains positive, he added. A buy-on-dip strategy remains favorable, while a decisive near 55,700 would further increase the momentum, “Mehra said. Bajaj Broking Research expects the bank to expand Nifty index consolidation and trading in the vicinity of 54,700 – 56,000. It is noted that immediate support at 54,700 – 54,900 levels is the confluence of the last week low and 20 days EMA. While key support is placed at 54,000 levels, this is the most important setback of the entire decline. “We maintain a positive bias and believe that the ongoing consolidation offers a buying opportunity. On the upside, the index is the first resistance in the 56,000 zone. Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, and not of currency. We advise investors to check with certified arts.
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